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Corporate Bond Sales in U.S. Climb to Cap Busiest November Ever

Corporate bond sales in the U.S. capped the busiest November on record as issuance climbed to $45 billion this week, while relative yields narrowed as companies sought to lock in borrowing costs at almost unprecedented lows.

Costco Wholesale Corp., the largest U.S. warehouse-club chain, raised $3.5 billion in its first sale since 2007 and Burbank, California-based Walt Disney Co. issued $3 billion, leading sales that rose from $6.1 billion last week and were the busiest since $48.1 billion in the period ended Nov. 9, according to data compiled by Bloomberg. Sales of at least $165.1 billion this month topped the previous November record of $124.7 billion set in 2006, Bloomberg data show.