Norfolk Southern Dangles Duration Bet With 100-Year Bond Sale
- Railroad firm’s sale will be the first by a company since 2018
- Sale comes as longer-dated high-grade bonds outperform
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Norfolk Southern Corp. is betting investors aren’t that afraid of rising yields after all.
The railroad operator sold $600 million of 100-year corporate bonds, the first to hit the market since 2018, which were also sold by the company. Monday’s offering will be just the ninth century bond issued by a corporation since 2005, according to data compiled by Bloomberg.