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Having been prevented from issuing bonds early this week because of Hurricane Sandy, companies...

  • Friday, November 2, 2012, 5:44 AM ET
    Having been prevented from issuing bonds early this week because of Hurricane Sandy, companies jumped into the market with a vengeance yesterday, raising almost $12B worth of debt. BP (BP) with a $3B deal and GD (GD) with $2.4B led the way, although AbbVie - soon to be spun off from Abbott Labs (ABT) - delayed a $10B offering until next week.
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    It stands to reason that the split company cannot share the same buildings etc. so they need to acquire some capital equipment and facilities but this also allows them to modernize some of their labs and equipment as well as move into more efficient (hopefully energy efficient) facilities. The bond financing is part of the foundation building process and positive for investors, imho.
    2 Nov 2012, 10:50 AM Reply Like
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