US high-grade bond market in second-biggest week ever
NEW YORK, March 5 (IFR) - The red-hot US high-grade bond market priced US$19.3 billion more debt on Wednesday, pushing the week's tally so far to US$43.95 billion - the second-busiest week ever recorded.
It was high-grade's second consecutive day with over US$19 billion in volume, as borrowers jumped into the market to seize on a wash of investor cash waiting to be put to work.
Syndicate desks said more deals are expected on Thursday.
Only the week of September 13 2013 was bigger at US$65.265 billion - and that was due to Verizon's US$49 billion bond issue, the largest bond ever.
This week, however, has seen a surge of issuance across sectors and maturities, as investors and borrowers alike have shrugged off worries about Ukraine and raced to get deals done before the all-important US payrolls number is released Friday.
AT&T, Ford Motor Credit and HSBC were among the well-known names in the market today.