Procter & Gamble Co. obtained a 2.3 percent interest rate onits $1 billion of 10-year notes issued yesterday, a record low forthe maturity, as corporate bond sales climbed to the most in almostthree months.

P&G, the world's largest consumer-products company, alsosold $1 billion of two-year, floating-rate notes, according to datacompiled by Bloomberg. Offerings in the U.S. reached $17.6 billion,the most since $21.2 billion was sold Nov. 7, as InternationalBusiness Machines Corp. issued $2.5 billion of debt and PetroleosBrasileiro SA raised $7 billion.

Issuers are seeking to lock in falling yields oninvestment-grade corporate bonds as Europe's debt crisis fuelsdemand for the relative safety of dollar-denominated securities andconfidence builds that the region's struggles won't disrupt arecovery in the world's largest economy. January sales fell 19percent from a year earlier to $102.6 billion, leaving investorseager to spend cash on offerings, said Adrian Miller, fixed- incomestrategist at GMP Securities LLC.