Companies Flood Bond Market in Second-Busiest Day This Month
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More than a dozen companies are selling just over $20 billion of investment-grade bonds Monday, after yields have fallen over the last week and demand for corporate debt has remained strong.
A subsidiary of Chevron Corp. is borrowing $5.5 billion in a seven-part deal. Marriott International Inc., meanwhile, has a $2 billion two-part bond offering. In terms of the number of deals, it’s the second busiest day for the US blue-chip bond market so far this month.