Corporate issuers from Blackstone Group LP to Royal Dutch Shell Plc are leading offerings of at least $4.6 billion by selling their first bonds in two years with yields at about record lows.
Shell, Europe’s largest oil producer, is planning a three-part offering that includes 30-year debt through its international finance unit, and New York-based Blackstone is borrowing for the first time since September 2010 and issuing its first 30-year obligations. Dollar-denominated offerings have averaged $6.7 billion a day this month through last week, 8 percent higher than in July, according to data compiled by Bloomberg.
Blackstone, the world’s largest private-equity firm, plans to sell 10.5- and 30-year bonds that may be rated A by Standard & Poor’s, its sixth-highest grade, according to a person familiar with the offering who asked not to be identified because terms aren’t set. Proceeds will be used for general corporate purposes, Blackstone said today in a release.