Bond Sales Soar to $17.3 Bln in Busy Friday

Verizon and Microsoft lead companies trying to issue debt prior to elections.

Microsoft Corp. and Verizon Communications Inc. are leading borrowers in the U.S. selling at least $17.3 billion of bonds in the busiest Friday this year as issuers stymied by Hurricane Sandy try to complete deals before the U.S. presidential election.

Microsoft, the world’s largest software maker, is selling $2.25 billion of securities in three parts and New York-based Verizon is raising $4.5 billion in its first bond sale this year, according to people familiar with the transactions. Sales exceed this year’s daily average of $6.1 billion and compare with $2.9 billion on Oct. 26, according to data compiled by Bloomberg.

Verizon Issue

The company last issued debt in October 2011 and proceeds will be used to pay existing debt and for general corporate purposes, the person said.

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