ADVFN - Advanced Financial Network.
HOME» NYSE » F » FCX Stock Price » FCX Stock News

Freeport Mcmoran Share News

 Freeport-mcmoran Copper & Gold Inc. Stock Price
FCX Stock Price
 Freeport-mcmoran Copper & Gold Inc. Stock Chart
FCX Stock Chart
 Freeport-mcmoran Copper & Gold Inc. Stock News
FCX Stock News
 Freeport-mcmoran Copper & Gold Inc. Company Information
FCX Company Information
 Freeport-mcmoran Copper & Gold Inc. Stock Trades
FCX Stock Trades

Seven Companies Marketing At Least $5.8Bln In Debt Wednesday

By Patrick McGee Of DOW JONES NEWSWIRES NEW YORK -(Dow Jones)- Seven companies are floating debt in the high-grade corporate bond market Wednesday as borrowing costs remain near record lows and investor demand for yield is high. "The risk-on trade is all across the board so the corporate market is roaring in," said Andrew Hofer, managing director of institutional fixed income at Brown Brothers Harriman. The sizes of major deals have yet to be determined; at a minimum, the market should see $5.75 billion of volume. The biggest deals on tap are three-part offerings from AT&T (T) and Freeport-McMoRan Copper & Gold (FCX), which are each marketing three-, five-, and 10-year bonds. Early pricing guidance suggests AT&T will offer a spread of around 60 basis points over the Treasury rate on the three-year bonds, around 85 basis points on the five-year notes, and around 110 basis points on the 10-year bonds. Freeport plans to offer spreads of 112.5 basis points, 137.5 basis points, and 162.5 basis points, respectively. Among banks, Wells Fargo & Co. (WFC) and HSBC Bank USA (HBC) are placing benchmark-size three-year deals. Wells launched its deal at 100 basis points over Treasurys; early price talk from HSBC suggests a 215 basis point spread. Hofer said new issues are getting priced at lower yields than originally offered, indicating that plenty of buyers are vying to get a piece of the new offerings. New deals typically offer investors extra-yield than outstanding bonds, plus added liquidity. "We get an indicated price and then, inevitably, the deals are getting done narrower than that," he said. Aflac Inc. (AFL) is planning a $750 million issue featuring five- and 10-year bonds, while Enterprise Products Partners (EPD) and BMC Software Inc. (BMC) are each finding investors for $500 million deals at the 30-year and 10-year marks, respectively. February has already absorbed $31.6 billion, about half the volume in all of February 2011, according to Dealogic. The market is showing few signs of being oversaturated, although Hofer said it is becoming more difficult to find bonds with great value, compared to the "happy hunting" days a few months ago. Markit's CDX North America Investment-Grade Index, a measure of health in the corporate bond market, was treading water as of 10:30 a.m. EST; more recently it has deteriorated 1.1%. Still, the index is at 96.2 points, among the best levels since last July. --By Patrick McGee, Dow Jones Newswires; 212-416-2382; patrick.mcgee@dowjones.com

Stock News for Freeport Mcmoran (FCX)
DateTimeHeadline
12/04/201419:37:46Buyout Shops Caught in Crude Exposure
11/30/201416:48:30Freeport-McMoRan Nears Settlement of Shareholder Lawsuit -- 2nd...
11/30/201416:30:37Freeport-McMoRan Nears Settlement of Shareholder Lawsuit -- Update
11/30/201415:56:34Freeport-McMoRan Nears Settlement Over McMoRan, Plains Deals
11/03/201403:14:11Indonesia September Trade Deficit Wider Than Expected
10/28/201414:40:06Threats of Mine Strikes Lift Copper Prices
10/28/201410:36:39Copper Futures Climb on Worries Of Reduced Metal Supply
10/27/201418:21:07Freeport to Address Situation in Indonesia -- Earnings Preview
09/27/201407:25:14Indonesia Mine Halts Production After Four Killed in Crash
09/15/201402:30:28Freeport-McMoRan's Indonesia Operations Unaffected by Fatal Accident
08/07/201413:04:17Freeport-McMoRan Said Considering $5 Billion Sale of California...
08/05/201422:20:41Freeport Indonesia Resumes Copper Concentrate Exports Wednesday...
08/05/201408:36:30Indonesia 2Q GDP Growth Slows to 5.12% -- Update
08/04/201405:45:24Freeport Indonesian Unit May Start Exporting Copper Concentrate...
07/25/201402:15:05Indonesia President Approves New Contract Terms With Freeport...
07/17/201404:14:23Indonesia Demands Newmont Withdraw Arbitration Filing
07/07/201404:06:22Indonesia and Freeport Agree on New Mining Contract Terms: Minister
07/01/201407:09:48Newmont Files for Arbitration Against Indonesia Government on...
06/05/201415:31:48Newmont Mining Declares Force Majeure in Indonesia -- 2nd Update
06/03/201403:16:20Newmont Stops Copper Concentrate Production in Indonesia

Freeport Mcmoran and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad