Corps and banks raise $44bn in US show of strength

By David Rothnie
19 Mar 2020

Investment grade corporate and financial institution borrowers showed their strength with more than $44bn of US bond issuance in two frenetic windows this week, after central banks took emergency action to avert a global depression.

On Tuesday and Thursday nine corporate borrowers raised more than $32bn and five US banks issued $12.3bn as they piled into an extremely volatile market that made pricing difficult.

“Market levels have repriced dramatically in a very short period,” said Rob Vandenassem, head of developed markets investment grade ...

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