Skip to content
Subscriber Only

Bond Sales Set Record as GE Leads $48.5 Billion: Credit Markets

Company bond sales in the U.S. reached a record this week and relative yields on investment-grade debt shrank to the narrowest since May as money managers boosted bets economic growth is gaining momentum.

Issuance soared to $48.5 billion, eclipsing the $46.9 billion raised in the week ended May 8, 2009, as General Electric Co.’s finance unit sold $6 billion of notes in the largest offering in 11 months, according to data compiled by Bloomberg. Investment-grade bond spreads narrowed to 162 basis points, or 1.62 percentage points, more than Treasuries, Bank of America Merrill Lynch index data show.