Skip to content
Subscriber Only

U.S. Corporate Debt Sales Fall for Third Straight Week

Reynolds Group Holdings Ltd.’s $3 billion notes sale, the second-biggest offering of U.S. junk bonds this year, failed to keep corporate debt issuance from slowing for a third straight week.

Sales declined 39 percent to $21.6 billion as Reynolds, the packaging company owned by New Zealand billionaire Graeme Hart, issued debt to help fund its purchase of Pactiv Corp., according to data compiled by Bloomberg. Celgene Corp. tapped the U.S. credit market for $1.25 billion of bonds in its debut issue.