Claire's Stores Inc., the jewelry retailer owned by ApolloGlobal Management LLC, and Chesapeake Energy Corp. are offeringbonds, as investor appetite for high-yield debt soars to thehighest level since June.

Claire's, graded Caa2 by Moody's Investors Service and B- byStandard & Poor's, sold $400 million of 9 percent, seven-yearnotes, according to data compiled by Bloomberg. Chesapeake, ratedthree steps below investment grade at Moody's, may issue $1 billionof seven-year debt at a yield of about 7 percent today, said aperson with knowledge of the offering, who declined to beidentified because terms aren't set.

Borrowing costs for high-yield, high-risk companies have tumbledto the lowest since August on signs the economic recovery isgaining traction and as the Federal Reserve pledges to holdinterest rates at record lows through at least late 2014. Investorshave poured more than $1.35 billion into junk mutual funds for fiveweeks, JPMorgan Chase & Co. analysts wrote in a Feb. 10 note,helping the companies sell $44.3 billion of debt this year, thebusiest two months since May and June.