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Corporate Bond Sales Surge to Highest in Ten Months in Europe

Companies sold the most debt in Europe this month since January as borrowing costs approached a five-month low.

AT&T Inc., the largest U.S. phone company, was among borrowers issuing 87 billion euros ($118 billion) of bonds, up from 72 billion euros in October, according to data compiled by Bloomberg. The average yield investors demand to hold corporate bonds in euros fell to 2 percent, 1 basis point from a June 6 low, Bank of America Merrill Lynch index data show.