Corporate Bond Floodgates Open Wide (IBM, JNJ, DELL, HD, AGN, AXP, ATK, AON, HPQ, MHS, HSP, HCN, PH, GR, USB, BRK.B, FTE, CM)

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Medco Health Solutions Inc. (NYSE: MHS) sold $1 billion in senior notes (coupon rather than yield): $500 million in 5-Year notes at 2.75% and $500 million in 10-Year notes at 4.125%.

Parker Hannifin Corp. (NYSE: PH) had a $300 million offering for a 12-Year note (due 2022) with a 3.50% coupon at +100/Treasuries and the prospectus listed a make whole call of T+15 basis points.

MANY PRICINGS DUE WEDNESDAY

American Express Company (NYSE: AXP), via its American Express Credit Corp., is expected to sell a $1 billion in 5-year benchmark notes.

Hewlett Packard Co. (NYSE: HPQ) is expected to sell a three-part benchmark note offering of 2-Year, 3-Year, and 5-Year tranches.

Unum Group (NYSE: UNM) is expected to sell some $300 million in debt in a 10-year offering.

U.S. Bancorp (NYSE: USB) has a 3-Year benchmark note due to price today although terms are still outstanding.

Goodrich Corp. (NYSE: GR) is said to have a $500 million or $600 million offering of senior unsecured notes that may be out to 10-Year maturities.

Please be advised that these yields, coupons, and other indications were based upon many preliminary prospectus filings and some of the spreads or conditions of each offering could have changed slightly from the original and preliminary terms.

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JON C. OGG