CREDIT DAYBOOK AMERICAS: Barclays, UBS Start September Sale Rush

The first US investment-grade debt sales for September started overnight with UBS, while Barclays kicked off a bond sale during New York business hours. Dealers expect $125 billion this month.

• UBS is coming to market with notes maturing in 21 years that are callable after 20 while Barclays is selling debt over three parts
• Sumitomo Mitsui Trust is selling a benchmark-sized trade in four tranches and Orix Corp. also announced a deal overnight
  • The estimated sales figure for this month is in line with last September’s $124.1 billion of bond offerings
  • The five-year average for September is $136 billion
  • In ...