Petrobras, Merck Lead $54 Billion of Company Bond Sales in U.S.
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Petroleo Brasileiro SA, the Brazilian state-run oil producer, and drugmaker Merck & Co. led at least $54 billion of bond sales in the U.S. this week, the most in more than four months, as relative yields widened.
Petrobras raised $11 billion in the largest dollar-denominated deal by an emerging-market issuer, according to data compiled by Bloomberg. Whitehouse Station, New Jersey-based Merck sold $6.5 billion of debt in a six-part offering. Sales rose from last week’s $45.6 billion and compare with an average of $29.5 billion during the past 12 months.