Bloomberg News

U.S. Corporate Bond Sales Hit Record $427 Billion This Quarter

March 29, 2012

Corporate bond sales in the U.S. soared to a record $427 billion in the first three months of 2012, beating a previous quarterly high set a year ago as companies tap the debt market at the lowest-ever borrowing costs.

Offerings by companies from the neediest to the most creditworthy surpassed the previous record of $397 billion reached in the first quarter of 2011, according to data compiled by Bloomberg. Yields on investment-grade bonds fell to 3.4 percent on March 2, the lowest in records dating back to 1986, and were within 10 basis points of the mark at 3.47 percent yesterday, Bank of America Merrill Lynch Index data show.

To contact the reporter on this story: Sridhar Natarajan in New York at snatarajan15@bloomberg.net

To contact the editor responsible for this story: Shannon D. Harrington at sharrington6@bloomberg.net


Cash Is for Losers
LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus