U.S. Investment-Grade Bond Sales Reach Record $1.125 Trillion
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Sales of investment-grade corporate bonds in the U.S. reached an all-time high for a second straight year as issuers took advantage of borrowing costs that touched record lows to offer deals of unprecedented size.
Deere & Co.’s $1.25 billion offering today sent sales for the year to $1.125 trillion, exceeding the $1.122 trillion in 2012, according to data compiled by Bloomberg. Last week, dollar-denominated high-yield offerings also reached an annual record, pushing U.S. corporate bond sales to the most ever.