New high-grade issues yesterday broke the $2 billion barrier for the eighth time this year as syndicate desks briskly shook off their Veterans Day slumber.

"It's heavy," Richard S. Barnett, a vice president at Mabon Securities Corp. said, "It's a continuation of the issuance we saw on Friday. You have the [Treasury] refunding out of the way."

Mr. Barnett said the refunding's completion, low interest rates, and the Treasury market's Veterans Day closing combined to spur yesterday's issuance spree.

Last Friday, after the previous day's successful 30-year Treasury auction, desks unleashed more than $2 billion of new debt onto the market.

That day marked the seventh time this year that new debt equaled or topped the $2 billion level, according to Joe Miller, an associate at Securities Data Co.

Among yesterday's issuers was IBM Credit Corp., which issued $500 million of 6.125% notes due 1994. The noncallable notes were priced at 99.85 to yield 6.18%, or 20 basis points over comparable Treasuries. Both Standard & POor's Corp. and Moody's Investors Service rate the notes triple-A. Goldman Sachs & Co. was lead manager for the offering.

"It was in the normal course of our review," Patrick Draper, IBM Credit Corp.'s treasurer, said when asked why IBM chose to issue yesterday. He added that interest rates were low.

Proceeds will go toward refinancing some commercial paper debt, some recently matured fixed-term debt, and some additional debt issues coming due in the first half of 1992, he said.

Merrill Lynch & Co. issued $300 million of 8.250% notes due 1999. The noncallable notes were priced at par to yield 110 basis points over interpolated seven and 10-year Treasuries. Moody's rates the notes A1, while Standard & Poor's rates them A. Merrill lead managed the transaction. The offering was increased from $200 million.

Texaco Capital Inc. issued $200 million of 8.625% debentures due 2031. The noncallable debentures were priced at 99.496 to yield 8.67%, or 86 basis points over comparable Treasuries. Moody's rates them A1, while Standard & Poor's rates them A-plus. Morgan Stanley & Co. was lead managed for the offering.

CIT Group Holdings issued $200 million of floating rate notes at par due 1992. The noncallable notes float daily at 245 basis points below prime and pay monthly. First Boston Corp. sole managed the offering. Moody's rates the notes A1, while Standard & Poor's rate them A-plus.

Federal Home Loan Banks issued $200 million of 7.790% notes at par due 1996. Noncallable for a year, the notes were priced to yield 16 basis points over comparable Treasuries. Merrill was lead manager for the offering.

The system also issued $200 million of 6.070% notes at par due 1994. Noncallable for a year, the notes were priced to yield 11 basis points over comparable Treasuries. Goldman, Sachs & Co. sole managed the offering.

Baxter International issued $150 milion of 8.125% notes due 2001. The noncallable notes were priced at 99.896 to yield 8.14%, or 77 basis points over comparable Treasuries. Moody's rates the deal A3, while Standard & Poor's rates them A-minus. Merrill lead managed the transaction.

Anadarko Petroleum Corp. sold $100 million of 8.250% notes due 2001. The noncallable notes were pried at 99.93 to yield 8.26%, or 90 basis points over comparable Treasuries. Moody's rates the offering A3, while Standard & Poor's rates it A-minus. J.P. Morgan Securities Inc. was lead manager for the offering.

The Federal Home Loan Mortgage Corp. issued $100 million of 7.791% debentures at par due 2001. Noncallable for a year, the debentures were priced to yield 43 basis points over comparable treasuries. Lehman sole managed the offering.

PHH Corp. issued $100 million of 5.050% notes due 1992. The notes were initially priced at par to yield 10 basis points over comparable Treasuries. Moody's rates the offering A2, while Standard & Poor's rates it A-plus. Merrill Lynch was lead manager for the transaction.

Monongahela Power Co., W.Va., issued $50 million of 8.625% first mortgage bonds due 2021. The bonds were priced at 99.75 to yield 8.648% or 84 basis points over comparable Treasuries. Moody's rates the bonds Aa3, while Standard & Poor's rates them AA-minus. Salomon won competitive bidding to underwrite the offering.

Mobil Corp. yesterday confirmed that it had filed a shelf registration with the U.S. Securities and Exchange Commission for up to $1.5 billion of debt securities. The company will use proceeds for general corporate purposes, a spokeswoman said.

High-grade bond prices rose about 1/4 point to 1/2 point in the long-end while high-yield bonds were generally unchanged in light trading.

Federal Home Loan Banks' will entirely redeem its $100 million optional principal redemption bond, Series number M-1995, a spokeswoman there said. The agency will redeem the bond at par through the Federal Reserve book-entry system. The issue is dated Dec. 12, 1990, and matures on Dec. 12, 1995. It carries an 8.12% coupon, the office said.

Standard & Poor's Corp. has affirmed Portland General Corp.'s A-2 commercial paper rating as well as the A-minus senior secured debt rating; BBB-plus senior unsecured debt and preferred stock ratings; and A-2 commercial paper ratings of its unit, Portland General Electric Corp.

Standard & Poor's announcement followed the parent company's decision to write off its approximately $45 million equity investment -- or 46% ownership share -- in Bonneville Pacific Corp.

Some $990 million of consolidated debt and preferred stock at Portland General and its unit remain outstanding, a Standard & Poor's release says.

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