27 jun: UPDATE: RWE Mulls Mothballing Some Power Plants on Low Power Pric..
27 jun: UPDATE: Xstrata Makes Significant Changes To Retention Package
27-06-2012 19:12:00

Three-Part $2.5 Billion ADT Deal Leads Corporate-Bond Issuance

Relateret indhold
03 apr - 
Verdens største virksomhed

By Patrick McGee

Corporate-bond deals continue to trickle in Wednesday as companies push to get deals completed before the two-day European Union summit begins Thursday.

Conditions were favorable, with the stock market rising and few headlines making their way out of Europe. A broad gauge of corporate-bond health, Markit's CDX North America Investment Grade Index, improved 0.7% in early-afternoon trading.

For home-security-products provider ADT Corp., the stable tone was encouraging enough to issue a three-part, $2.5 billion deal, while serial issuer General Electric Capital Corp., a unit of General Electric Co. (GE), is selling an undetermined amount of three-year notes.

ADT, which is being spun off by parent company Tyco International Ltd. (TYC), is offering five-, 10-, and 30-year maturities. Early price talk suggests the bonds will offer spreads to Treasurys of 1.60, 1.95, and 2.30 percentage points, respectively.

They are expected to be rated Baa2 by Moody's Investors Service, BBB by Standard & Poor's, and BBB-plus by Fitch Ratings.

Fitch noted that the company boasts nationwide brand recognition with more than six million customers, adding that its subscriber-based business generates sustainable cash flow and solid liquidity.

Among smaller deals, Liberty Interactive Corp.'s (LINTA, LINTB) multimedia retailer QVC Inc. plans to sell $500 million of 10-year senior secured notes. Markel Corp. (MKL), a property-and-casualty insurance-holding company, is selling $300 million of 10-year notes.

The day is much quieter than Tuesday, when $8.25 billion was sold.

Market participants were expecting upwards of $15 billion in new issuance this week, in part because trading could be thin next week owing to the U.S. Independence Day holiday falling on a Wednesday.

Average yields ticked up Tuesday, but at 3.29% they remain incredibly low and just 0.04 percentage point from the all-time record.

Bonds are mostly improving in secondary trading, with nine of the 10 most-active bonds outperforming Treasurys, according to MarketAxess.

Comcast Corp. (CMCSA) 10-year and 30-year bonds, which priced Tuesday, have improved 0.05 and 0.04 percentage point, respectively.

Spreads on 3M Co. (MMM) 10-year bonds that priced at a record-low 2% coupon last week tightened 0.03 percentage point Wednesday. The spread is now 0.54 point, versus 0.55 at issuance.

Write to Patrick McGee at patrick.mcgee@dowjones.com.

(END) Dow Jones Newswires

June 27, 2012 13:12 ET (17:12 GMT)

Copyright (c) 2012 Dow Jones & Company, Inc.

Opret kommentar

Relateret debat

  • 1 uge
  • 1 måned
  • 1 År
Ingen indlæg

Fondsbørsmeddelelser

Høreapparater/Bernstein: Siemens-køb muligt for både GN og WDH

22-10-2014 16:40:02
Det er ikke helt utænkeligt, at en af de to store danske høreapparatproducenter, William Demant Holding og GN Resound, vil kunne absorbere et opkøb af tyske Sie..

Genmab venter royalties fra Arzerra-salg på 27 mio. kr. i Q3

22-10-2014 13:11:49
Genmab regner med at modtage royalties på cirka 27 mio. kr. fra Glaxosmithklines salg af Arzerra i tredje kvartal.Det meddeler Genmab i forbindelse med, at Glax..

Nordea Danmark sværger troskab til Swipp

22-10-2014 11:07:17
Selvom storbanken Nordea nu sætter gang i en storstilet it-offensiv, der skal strømline den pannordiske banks systemer på tværs af landegrænser, så er der ingen..

Mest læste nyheder

  • 24 timer
  • 48 timer
  • 1 uge
1
Bavarian/Nordea: Ebola-aftale er veltimet, værdifuld og vigtig
2
Bavarian overrasker med foreløbigt regnskab
3
Bavarian hopper på ebola meddelse
4
Aktier/åbning: Bavarian tordner i vejret
5
Al-Qaeda blæser til kamp mod vestlige olietankere

Relaterede aktiekurser

General Electric Co 25,19 -1,0% Fald i aktiekurs
Comcast Corporation- Cla.. 51,49 -1,3% Fald i aktiekurs
3M Co 138,95 -1,4% Fald i aktiekurs
Comcast Corporation- Cla.. 51,44 -1,1% Fald i aktiekurs
Markel Corp (Holding Co 667,28 -0,3% Fald i aktiekurs
Tyco International Ltd (.. 40,08 -1,6% Fald i aktiekurs
Gen.Electric COM STK USD.. 20,08 5,5% Stigning i aktiekurs
General Electric 20,08 1,0% Stigning i aktiekurs
GEN Elec 24,10 2,1% Stigning i aktiekurs
3M 136,30 0,0% Aktiekurs uændret

Køb- og salgsanbefalinger

  • Trend
  • Pengemaskinen

Relaterede selskaber
Få adgang til information og anbefalinger af relaterede selskaber med PLUS pakken.

Du får adgang til 7 værdifulde investorværktøjer til investering.

Klik her og læs mere om PLUS pakken.
Euroinvestor i andre lande: Euroinvestor.com | Euroinvestor.se | Euroinvestor.no | Euroinvestor.fr | Forexinvestor.com| Wisselkoersen.nl | Valuta.se | Valutaveksel.no | Divisas.es | Valute.it
Copyright Euroinvestor A/S 2014  Disclaimer Privatlivspolitik
Aktieinformation leveres af Interactive Data.
Data er forsinket 15-20 minutter iht. de enkelte børsers regler om videredistribution.
 
23. oktober 2014 00:23:20
(UTC+01:00) Brussels, Copenhagen, Madrid, Paris
Version: LiveBranchBuild_20141015.1 - EUROWEB5 - 2014-10-23 00:23:20 - 2014-10-23 00:23:20 - 1 - Website: OKAY

Når du besøger Euroinvestor.dk accepterer du, at der anvendes cookies, som vi og vores samarbejdspartnere benytter til funktionalitet, statistik og markedsføring. Læs mere om cookies på Euroinvestor.dk her

x