Deals
Junk Debt ‘Best Bet’ as Issuance Beats Record: Credit Markets
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Global high-yield bond sales surpassed last year’s record issuance in 2010 as the riskiest companies take advantage of plunging borrowing costs and investor demand to refinance debt.
Ally Financial Inc., the lender previously known as GMAC Inc., and the lending arm of Ford Motor Co. have led $208.3 billion of speculative-grade debt sales this year through today, compared with $208.1 billion for all of 2009, according to data compiled by Bloomberg.