J&J May Get Record Low Rate on $1.1 Billion Debt Sale
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Johnson & Johnson may sell $1.1 billion of bonds in the first offering by a nonfinancial AAA rated company in 15 months amid surging investor demand for corporate debt.
The drugmaker, one of only four nonfinancial U.S. companies with the top credit grade from Standard & Poor’s, may be able to sell 10-year notes at the lowest interest rate on record for debt of that maturity, said Guy LeBas of Janney Montgomery Scott LLC in Philadelphia.