ADVFN - Advanced Financial Network.
HOME» NYSE » M » MET Stock Price » MET Stock News

Metlife Share News

 Metlife Stock Price
MET Stock Price
 Metlife Stock Chart
MET Stock Chart
 Metlife Stock News
MET Stock News
 Metlife Company Information
MET Company Information
 Metlife Stock Trades
MET Stock Trades

Six Companies Selling Bonds in Weak Market

A series of companies are taking their chances to meet investors and sell bonds near record-low yields despite another day of weak sentiment in the corporate credit markets. A broad measure of risk sentiment, Markit's CDX North America Investment Grade Index, sank 0.8% in late-morning trading, following a 3.4% weakening Monday, as investors remain anxious ahead of the two-day European Union summit beginning Thursday. Six borrowers including Deere & Co. (DE) and Comcast Corp. (CMCSA, CMCSK) are doing what they can to get in deals now before the summit potentially brings another downturn to the market. Jim Probert, managing director and head of investment grade capital markets at Bank of America Merrill Lynch, said investors are getting more comfortable with volatility, enabling issuers to bring debt to the market even on days when equity markets are down sharply. "It has evolved from perhaps three or six months ago," Probert said. "We wouldn't have recommended moving ahead on days that were down...and now we are confident moving ahead." One reason both sides of the transaction can be confident: issuers are receiving some of the lowest borrowing costs on record, and investors are seeing good performance in the secondary market. The Barclays investment-grade index was within 0.02 percentage points of its all-time low at 3.27% Monday, but it also returned 4.85% to date this year. "It's close to a perfect world scenario," Probert said. "It's rare that two things line up...and both sides are taking advantage of that." Deere, which sold $1.25 billion of 30-year bonds at one of the lowest yields on record earlier this month, is now selling a three-part deal featuring 22-month floating-rate notes, plus fixed-maturities due in three and 10.5 years. Comcast is selling 10-year and 30-year bonds, marking its first offering in more than two years, according to Standard & Poor's LCD. Both deals are "benchmark"-sized, which typically means at least $500 million per tranche. Other deals appear to be smaller, unlike last week when a range of "jumbo" deals pushed weekly volume well above forecasts. Nearly $20 billion of high-grade bonds were priced last week, versus estimates of $10 billion to $15 billion. David Trahan, head of investment-grade syndicate at Citigroup, said Monday the stars could align for a continued flood of deals issuance this week. "This is certainly a week that the market was expecting to be active, in part because of the odd-holiday next week with July 4th falling on Wednesday," he said. "If markets stabilize, we could see a plethora of companies coming to the market." Luxury goods maker LVMH Moet Hennessy Louis Vuitton SA (MC.FR, LVMUY), and the financing unit of global information services group Experian Plc (EXPN.LN, EXPGY), are each selling $500 million of five-year bonds. Metropolitan Life Global Funding I, a unit of MetLife Inc. (MET), is also selling a benchmark-sized offering of three-year notes. The two-part transaction features senior unsecured notes as well as funding agreement-backed notes. Finally, American International Group Inc. (AIG) is adding $250 million to its outstanding issuer of 4.875% coupon bonds due in June 2022. Write to Patrick McGee at patrick.mcgee@dowjones.com

Stock News for Metlife (MET)
DateTimeHeadline
09/27/201614:18:00MetLife Named to Working Mother “100 Best Companies” List for...
09/26/201615:40:00Majority of Judges in MetLife Appeal Appointed by Obama
09/26/201615:34:00Majority of Judges in MetLife Appeal Appointed by Obama
09/26/201612:00:00MetLife’s Corporate Benefit Funding Customer Solutions Center R...
09/22/201608:30:00MetLife and Norges Bank Real Estate Management Joint Venture...
09/15/201616:32:28Statement of Changes in Beneficial Ownership (4)
09/15/201616:32:02Statement of Changes in Beneficial Ownership (4)
09/15/201616:31:35Statement of Changes in Beneficial Ownership (4)
09/15/201616:31:08Statement of Changes in Beneficial Ownership (4)
09/15/201616:30:41Statement of Changes in Beneficial Ownership (4)
09/15/201616:30:15Statement of Changes in Beneficial Ownership (4)
09/15/201616:29:49Statement of Changes in Beneficial Ownership (4)
09/15/201616:29:21Statement of Changes in Beneficial Ownership (4)
09/15/201616:28:55Statement of Changes in Beneficial Ownership (4)
09/15/201616:28:29Statement of Changes in Beneficial Ownership (4)
09/15/201616:27:34Statement of Changes in Beneficial Ownership (4)
09/14/201614:41:00MetLife Celebrates Grand Opening of Its New State-of-the-Art...
09/07/201615:31:00Most Plan Sponsors Agree Core Purpose of DC Plans is to Provide...
09/06/201616:18:13Statement of Changes in Beneficial Ownership (4)
09/01/201608:30:00MetLife Executive Vice President and Chief Financial Officer...

Metlife 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 1999-2015 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad