This month has been the busiest August on record for global corporate bond issuance as companies have taken advantage of strong investor demand for debt offering higher yields than government bonds.
Corporate treasurers have issued nearly $120bn of debt in the month to date, according to data provider Dealogic – the highest August figure since its records began in 1995, and more than double the $58bn average.
In Europe, where issuance has jumped from an August average of $8bn to $12bn, risk appetite appears to have been bolstered by comments from Mario Draghi, the European Central Bank president, who said late last month that he would do “whatever it takes” to support the euro.
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