Pursuits
Europe Just Capped Its Biggest Week for Company Bond Sales
- Companies sell 23 billion euros of bonds on ECB stimulus
- Borrowing costs in single currency plummet versus dollar
This article is for subscribers only.
Corporate bond sales in euros surged to a record this week as borrowers clamored to sell debt made cheap by the European Central Bank’s inclusion of company notes on its quantitative-easing shopping list.
Issuance jumped to about 23 billion euros ($26 billion) from 8 billion euros the previous week, according to data compiled by Bloomberg, fueled by Anheuser-Busch InBev NV’s 13.25 billion-euro sale, the biggest ever in the single currency. The brewer joined Deutsche Telekom AG, Fomento Economico Mexicano SAB and Relx Group Plc in selling euro bonds. U.S. delivery provider FedEx Corp. is also planning to come to the region’s market to sell its first non-dollar bonds.