US bond pace cools, but not fazed by politics

By David Rothnie
14 Jan 2021

The dollar corporate bond market has a more subdued feel this week, after its stellar start to the year, as US issuers are moving into earnings blackouts. But even as politics took centre stage as Congress moved to impeach President Donald Trump for the second time, ahead of Joe Biden’s inauguration on January 20, corporate borrowers quietly churned out deals.

Oil explorer Pioneer Natural Resources came on Thursday with the biggest issue of the week so far – a $2.5bn three part deal to refinance debt from its acquisition of Parsley Energy, completed the day before.

With a relative lack of supply stoking demand, bookrunners Bank of America, Citigroup, JP ...

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