Shell, McKesson Lead $11.4 Bln of Bond Sales

Thursday’s issuers included Comcast, Newell Rubbermaid and Royal Bank of Canada.

Royal Dutch Shell Plc, Europe’s largest oil producer, raised $1.75 billion as it led corporate bond sales of at least $11.4 billion in the U.S.

Shell issued $750 million of 0.625 percent, three-year securities today to yield 30 basis points more than similar-maturity Treasuries and $1 billion of 2.25 percent, 10-year bonds at a relative yield of 75 basis points, according to data compiled by Bloomberg.

The company previously offered debt in August, issuing $2.5 billion in three parts, including $1 billion of 2.375 percent, 10-year debentures at a spread of 70 basis points, Bloomberg data show. The bonds traded at 101.1 cents on the dollar to yield 61 basis points more than Treasuries yesterday, according to Trace, the bond-price reporting system of the Financial Industry Regulatory Authority.

Barclays Plc and Goldman Sachs Group Inc. managed the offering for the company, which is based in The Hague, Bloomberg data show.

Comcast Corp., the largest U.S. cable company and the majority owner of NBC, sold $250 million, of 5 percent, 49-year securities, according to a person familiar with the transaction who asked not to be identified, citing lack of authorization to speak about the deal. Moody’s rated the transaction Baa1, according to a report today.

McKesson Corp., the largest U.S. drug distributor, issued $500 million of 0.95 percent, three-year debt at a spread of 65 basis points and $400 million of 2.7 percent, 10-year notes at 110 basis points, Bloomberg data show. The offering is its first bond sale this year.

Newell Rubbermaid Inc., the Atlanta-based housewares maker, sold $350 million of 2.05 percent, five-year notes at a spread of 145 basis points, the data show.

Royal Bank of Canada, the nation’s largest lender, issued $1.5 billion of 0.625 percent, three-year covered notes at a spread of 31.5 basis points, the data show.

Carnival Corp., the world’s largest cruise-line operator, plans to refinance debt maturing next year with its $500 million sale of 1.875 percent, five-year bonds at a spread of 130 basis points, Bloomberg data show. That’s its first offering in six years.


Bloomberg News

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