Bernanke Unleashes Cascade of Bond Offerings: Credit Markets
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Corporate bond sales surged to $15.9 billion yesterday, the busiest day in almost two months, as the Federal Reserve’s move to stimulate the economy ignited a rush of issuers tapping credit markets at record-low interest rates.
Coca-Cola Co., the world’s largest soft-drink maker, raised $4.5 billion in its biggest offering, according to data compiled by Bloomberg. Borrowers including BNP Paribas SA and MetroPCS Communications Inc. sold $2.67 billion more in debt today.