MIT century bond shines amid energy deals

By EuroWeek Reporter 1
03 Apr 2014

US investors’ appetite for bond issues remained sharp this week, while issuance dipped, as they grabbed opportunities to participate in deals from less frequent issuers like MidAmerican Energy and Interpublic Group and gobbled up extra spread.

Arguably the jewel of the week was the Massachusetts Institute of Technology’s 100 year bond, led by Barclays, JP Morgan and Morgan Stanley on Tuesday.

MIT, rated Aaa/AAA, started with price thoughts of 115bp-120bp over Treasuries, set guidance at 110bp and priced a $550m bond at 108bp. The ...

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