CorporateBonds

March 31st, 2014 10:11 am | by John Jansen |

Corporate Bond spreads are tighter again today and I gathered this prior to the very dovish Yellen speech hitting the tapes. The IG 21 is better by a basis point . TMT paper and industrials are also a basis point better. My main source on this topic says that most of the customer inquiry this morning at his shop is on the offered wanted side.

New issuance is light thus far and the names are not high profile types. I would expect that issuance should remain muted until firms leave the blackout period surrounding earnings releases.

The list so far via the good folks at Bloomberg:

Nordea Bank AB B’Mark Aa3/AA- 2 part  3 & 5 yr 144A Reg S
ipt 3 yr fxd +mid 50’s
frn 3ml equiv
5    fxd + low 80’s
MidAmerican Energy 850mm  Aa2/A/A+  3 part tap on 2.40 3/15/19, 10.5yr, 30.5yr
FMB’s
ipt  5 yr tap 55 area
10.5 yr +90-95
30.5 yr +95-100
Sunoco Logistics Partners B’Mark Baa3/BBB-  2 part    10 & 30 yr
3 mo par call prior on 10 yr
6 mo                on 30 yr
The Interpublic Group of Companies, Inc. 350mm Baa3/BB+  10 yr
101% coc Put
ipt +170 area
And “in the works”
Kommuninvest i Sverige Aktiebolag 1 bln Aaa/AAA    3 yr 144A Reg S
ipt ms +high single digits
in works  expected tomorrow
c,db,hsbc,miz

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