PayPal, Volkswagen, Walmart, Allegion, Interstate Power, Desjardins price; EBRD eyed

By Cristal Cody

Tupelo, Miss., Sept. 19 – The investment-grade bond market roared back to life on Thursday with more than $11 billion of bonds priced after issuance paused on Wednesday for the Federal Reserve’s rate cut.

PayPal Holdings Inc. priced $5 billion of notes in four tranches, dropping a floating-rate tranche from the deal.

Volkswagen Group of America Finance LLC brought $3 billion of notes in five tranches to the primary market.

Walmart Inc. priced $1.5 billion of senior notes in two tranches.

Allegion plc priced $400 million of 10-year senior notes.

Interstate Power and Light Co. sold $300 million of 30-year green senior debentures.

In addition, the Federation des caisses Desjardins du Quebec priced $1 billion of three-year covered bonds.

Separately, Hudson Pacific Properties Inc. held fixed income investor calls for a possible bond deal.

Fannie Mae announced that it did not utilize its Sept. 19 Benchmark Notes announcement date.

Meanwhile, the European Bank for Reconstruction and Development is marketing $500 million of five-year green climate resilience bonds that are expected to price on Friday.

Initial price talk is in the mid-swaps plus 16 basis points area.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.