UPS Sells $2.6 Billion of Notes as New-Debt Barrage Persists
- Ten companies priced investment-grade bonds on Monday
- Heavy sales are also occurring in high yield, leveraged loans
A UPS delivery truck in San Francisco, California.
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
United Parcel Service Inc. sold $2.6 billion in high-grade bonds Monday as companies rush to price new debt ahead of the Memorial Day holiday.
The package delivery company priced notes maturing in 10, 30 and 40 years, according to a person familiar with the matter. The $600 million note of 40-year bonds will yield 1.05 percentage point above Treasuries, said the person, declining to be identified as they’re not authorized to speak about it.