Nabors $700 Million Bond Launched At Treasurys +235BPS

Date : 09/09/2010 @ 9:23AM
Source : Dow Jones News
Stock : Nabors Industries Ltd. (NBR)
Quote : 9.87  -0.21 (-2.08%) @ 7:12PM

Nabors $700 Million Bond Launched At Treasurys +235BPS

Nabors (NYSE:NBR)
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Nabors Industries Ltd.'s (NBR) $700 million bond has launched and is scheduled to price later Thursday.

The 10-year bond, rated Baa2, BBB/BBB+, was increased in size from an original $500 million.

It launched at 235 basis points over Treasurys.

It is one of more than $15 billion in new high-grade bonds that surfaced on Wednesday, as issuers sought to capitalize on low interest rates and eager investors.

On Tuesday, corporate borrowers marketed more than $15 billion of debt, according to data provider Dealogic. That was the third-highest day for U.S.-marketed investment-grade bonds this year and the highest daily volume since Feb. 4, it said.

Other issuers included Hewlett-Packard Co. (HPQ), American Express Credit Corp. and the Republic of Italy.

-By Anusha Shrivastava, Dow Jones Newswires; 212-416-2227; anusha.shrivastava@dowjones.com

 
 

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