One after another, some of the most embattled names in corporate America are racing to raise easy money while they can.
With the coronavirus surging anew across the nation, two prominent companies in the stricken travel industry—American Airlines Group Inc. and Carnival Corp.—outlined plans Tuesday to sell stock. Meantime, in the junk bond market, corporations with weak credit ratings are hurrying to lock in today's ultra-low interest rates.
The rush underscores the angst gripping many companies even as global investors drive financial markets to giddy heights. With reduced odds for a large stimulus package, companies looking for money to tide them through the crisis are riding an election rally and progress toward a vaccine that could end the pandemic. Traders also cheered the prospect of a split Congress that may limit regulatory changes and tax increases. But it could be a short reprieve, with President-elect Joe Biden warning a "dark winter" lies ahead as the virus roars back, signaling some hard months before a vaccine is available.
Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.
Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
- Exclusive discounts on ALM and Treasury & Risk events.
- Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.
*May exclude premium content
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
