Yankees Scoop Biggest Market Share in 10 Years: Credit Markets
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Foreign borrowers are claiming the biggest share of the U.S. corporate bond market in at least a decade, taking advantage of record investor demand for dollar- denominated debt.
The issuers, known as Yankee borrowers, account for 43 percent of sales this year, compared with 37 percent in 2009 and an average 23 percent from 1999 to 2009, according to data compiled by Bloomberg. Reliance Industries Ltd., India’s biggest company by market value, plans to sell at least $1 billion of bonds in its first benchmark offering in dollars.