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A few of the highlights from last week's corporate bond issues.  The total for the week was $35.8 billion.  $16.4 billion of that was from companies based outside the US. 

The biggest borrower was GE with $7 billion; $5 billion of that goes to refinance higher coupon debt, the other $2 billion is for general corporate purposes.  Next was Heineken with $3.25 billion to help finance its acquisition of Asia Pacific Breweries.

Sixteen of the issues were junk bonds for a total of $8.4 billion.  A junk issue profiled in the article was Crown Castle's issue that's effectively helping fund a of cell tower deal with T-Mobile.  That coupon rate was 5.25% on 10-year paper, which doesn't seem like much of a premium over investment grade for the step down in credit quality.

I like doing this topic and would appreciate any comments on how to make it better, hate it/like it, etc.

Fool on!

Russ

Disclosure:  Long GE.  No position in any other company mentioned.

 

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