- Bristol-Myers Squibb (BMY) was among a number of highly rated issuers to sell a total of $12.7B of bonds yesterday as those raising debt took advantage of falling rates and strong demand.
- The pharmaceuticals company sold $1.5B in debt, Bank of Nova Scotia (BNS) $1.5B, railway operator Kansas City Southern (KSU) $450M, and the World Bank $6B - a record for the institution.
- Investment-grade firms have auctioned $21B in debt this week, while $884.3B of highly rated corporate bonds had been sold in 2013 through Wednesday. This year is on course to top the record $1.01T that was raised in 2012.
- ETFs: LQD, CBND, CORP, FLTR, FLRN, ITR, LWC, SCPB, VCIT, VCLT, VCSH, IGU, IGS, CSJ, QLTA, QLTB, BSCI, BSCJ, BSCK, BSCL, BSCM
Top-rated issuers enjoy bond bonanza
Oct 25 2013, 04:44 ET