Foreign Banks Lead US Investment-Grade Borrowing Spree Wednesday

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Foreign Banks Lead US Investment-Grade Borrowing Spree Wednesday
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Financial institutions, including several foreign banks, are leading at least 10 companies tapping the US investment-grade primary market Wednesday, one day after both volume and deal count hit yearly highs.

Barclays Plc is marketing fresh debt with a four-part offering of senior unsecured bonds that are expected to price Wednesday, according to a person familiar with the matter, who asked not to be identified as the details are private. Initial pricing discussions for the longest-dated portion of the offering — an 11-year fixed-to-floating rate note — are for a yield in the area of 2.65 percentage points over Treasuries.

Irish lender AIB Group Plc announced an offering of six-year fixed-to-floating rate notes, which aren’t callable for five years and may yield in the area of 2.45 percentage points over Treasuries.

 

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