UPS Sells Bonds to Fund Pensions as Debt Sales Surge
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United Parcel Service Inc., the world’s largest package-delivery business, sold $2 billion of bonds to pay for pension-fund contributions as dollar- denominated corporate bond sales reached $1 trillion for 2010.
Companies including Becton Dickinson Co., Boston Properties Inc., Icahn Enterprises LP and AutoZone Inc. have sold or are expecting to price $13.8 billion of bonds today, according to data compiled by Bloomberg. That will make this the ninth-busiest day of the year, and mark the most volume since Nov. 4, when issuance was $15.8 billion, Bloomberg data show.