M&A funders plunder dollar market on Biden and vaccine news

By David Rothnie
12 Nov 2020

Bristol-Myers Squibb and Verizon took advantage of surging demand for high grade corporate bonds this week to print multi-billion dollar trades to fund mergers and acquisitions and future investment.

The two jumbo borrowers hogged the supply pipeline, accounting for $19bn of the $26bn of high grade paper that  priced in the first three days of the week. 

“This is the run in to Thanksgiving, and we expect a lot of supply in some fairly tight windows,” said one ...

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