Bond Buyers Embrace 72-Hour, 52-Deal Corporate Borrowing Binge
- High-grade companies raise over $75 billion through Thursday
- Strong demand, concern over rising rates fuel debt onslaught
Photographer: Witthaya Prasongsin/Moment
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Corporate America’s unprecedented issuance spree showed no signs of slowing Thursday amid what bankers and borrowers say are ideal conditions for high-grade companies to tap the bond market for financing.
After a relatively slow August even by Wall Street standards, issuers are back in force. They’re taking advantage of pent-up investor demand for high-quality credits, and looking to lock in their funding needs for the year amid concern that the Federal Reserve will soon begin to pull back stimulus that’s helped push interest rates to near-record lows.