Reported 2 days ago
In the first week of September, U.S. investment-grade corporate borrowers raised nearly $70 billion in the bond market, exceeding initial forecasts of $60 billion. A busy Tuesday marked the week, with 28 issuers raising $43.3 billion, indicative of a strong post-Labor Day market. Notable deals included Merck’s $6 billion offering to fund its $10 billion acquisition of Verona Pharma and Cigna’s $4 billion refinancing initiative. The ongoing low borrowing costs and potential Fed rate cuts could support further activity in corporate bond issuance.
Source: YAHOO