Companies are borrowing in the US bond market at the fastest pace since the Covid-19 pandemic, as Wall Street kicks off what is expected to be a record year of debt sales thanks to AI spending and financing for a wave of mergers.
Corporate borrowers raised more than $95bn from 55 investment-grade bond deals in the first full week of January, the highest weekly volume since May 2020 and the busiest start to a year on record, according to LSEG data.
Financial institutions and European groups were among the week’s largest issuers, as companies took advantage of strong investor demand for high-quality dollar debt that has pushed borrowing costs close to their lowest level relative to US Treasuries since the global financial crisis.