Sales of corporate bonds in the U.S. are capping the busiest week this month as companies seized on borrowing costs that dropped to the lowest in a year.
Pfizer Inc., the biggest U.S. drugmaker, issued $4.5 billion and Wolfsburg, Germany-based Volkswagen AG raised $3.5 billion, according to data compiled by Bloomberg. Offerings of about $41 billion were the most since $47.3 billion in the five days ended April 25 and compare with a weekly average of $29.1 billion over the past 12 months.
