Sanofi Finds Money Almost Free in Draghi-Fueled Euro Bond Market
- Sanofi sells record-low yielding corporate bond in euros
- ECB's plan to expand easing measures drives down cost of debt
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European companies are inching ever closer to borrowing for free as the central bank expands stimulus.
Sanofi, France’s biggest drugmaker, sold bonds in euros with the lowest yield on record for a non-financial company on Tuesday, according to data compiled by Bloomberg. In the secondary market, about 14 billion euros ($16 billion) of highly rated corporate bonds are trading with yields below zero, the data show.