A $150 Billion Global Corporate Bond Binge Smashed Records
- Record start to a September for global G3-currency bond sales
- U.S. firms price 49 deals in 30 hours amid sales frenzy
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Bond bankers from London to New York and Tokyo have never had such an abrupt transition from leisurely summer lunches to scarfing down sandwiches at their desks.
September typically marks a return to busier issuance, but this year has been unprecedented as borrowing costs slide. Companies including Berkshire Hathaway Inc., Apple Inc., major Chinese conglomerate Dalian Wanda Group and Italian natural gas firm Snam SpA sold at least $150 billion-equivalent of bonds this week in dollars, euro and yen, the most ever in the first week of September.