Companies raised more than $100 billion in the bond market in the first week of 2022, as firms sought to make the most of lower borrowing costs before interest rates began to rise.
US deals led the charge as global corporate bond issuance reached $101 billion in the year ending Jan. 7.
The global increase also came on the heels of $118 billion being raised over the same period in 2021, which was the highest in the records of US/UK financial market data firm Refinitiv for nearly two decades.
“There is an expectation among our issuers that prices are likely to continue upward from here, they will try to take advantage of the market now while there are favorable conditions for these prices to stabilize,” Dan Mead, head of an investment-grade syndicate at Bank of America said, according to the Financial Times.
