Corporate Bond Sales in U.S. Surpass Last Year’s Record
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U.S. corporate bond sales swelled to an annual record as a late-year rush by borrowers to lock in low interest rates pushed offerings for 2014 past $1.5 trillion.
Issuance was bolstered by heart-rhythm device maker Medtronic Inc.’s $17 billion bond sale yesterday, the largest dollar-denominated offering in more than a year, according to data compiled by Bloomberg. Internet commerce company Alibaba Group Holding Ltd. sold $8 billion last month, helping push this year’s volume past the previous high of $1.494 trillion set last year.