Caterpillar Sells $4.5 Billion of Bonds for Bucyrus Purchase
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Caterpillar Inc., the world’s largest maker of construction equipment, sold $4.5 billion of bonds in its biggest corporate debt sale on record to help fund its $8.6 billion acquisition of Bucyrus International Inc.
The balance of the acquisition will be paid for with $800 million in commercial paper and $3.3 billion of cash on hand, Moody’s Investors Service said in a note today, assigning A2 ratings to the debt.