Frenzied Company Bond Sales Show Few Signs of Letting Up in US
- Adobe and Rakuten among the companies looking at selling notes
- First quarter high-grade bond sales broke records in US
Adobe headquarters in San Jose, California.
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
The day after Easter is often quiet for company bond sales in the US, but it’s proving to be anything but on Monday.
Adobe Inc. is in the high-grade market looking to raise cash to help pay for capital expenditures, stock buybacks and acquisitions, one of seven companies selling notes. Japanese e-commerce company Rakuten Group Inc. is selling a $1.25 billion junk bond to repurchase notes that mature this year and further out, one of four deals in the market.