Verizon Leads Jump in Bond Sales With Summer Lull Looming
This article is for subscribers only.
So much for the unofficial start of summer. Corporate-bond sales in the U.S. since the Memorial Day holiday are off to the fastest pace in five years as companies from Verizon Communications Inc. to Baytex Energy Corp. lead more than $48 billion of issuance.
Verizon, the largest U.S. wireless carrier, sold $3.3 billion of dollar-denominated debt this week, and junk-rated Baytex, based in Calgary, borrowed $800 million on May 29, according to data compiled by Bloomberg.