, Columnist
Bondholders Left Holding Stockholders' Bag
Money from debt buyers pads the pockets of equity holders through share buybacks.
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Debt investors have enabled top-rated companies to sell a staggering amount of debt to start 2017.
They've quickly absorbed the record $125 billion of investment-grade bonds issued so far this year. Not only that, but they're also pricing in a lower potential risk of the borrowers being unable to repay them.