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Junk Bonds Topple Monthly Sales Record in ‘Party Like No Other’

  • U.S. high-yield companies have raised $46.7 billion this month
  • Fed support for corporate bonds emboldened yield chasers

Companies shoring up cash to survive the global pandemic raised funds in the U.S. high-yield market at the fastest monthly pace ever.

Junk issuers have already sold $46.7 billion of bonds in June, surpassing the prior monthly record of $46.4 billion in September 2013, according to data compiled by Bloomberg. Today’s $500 million deal from Navios Logistics pushed the year-to-date volume to $199 billion, up about 66.5% on the same period a year ago, the data show.