Europe's comeback from the brink is extending to the region'scorporate debt market, where borrowers are selling bonds at thefastest pace in two years.
Fiat SpA, Italy's biggest manufacturer, Daimler AG andElectricite de France SA led 6.6 billion euros ($8.7 billion) ofofferings in the busiest day of issuance since Jan. 12, 2010,according to data compiled by Bloomberg. Daimler in Stuttgart,Germany raised 750 million euros after boosting the sale from 500million euros, while EDF in Paris sold 1.6 billion euros of bondsand Fiat issued its first benchmark deal since July.
The European Central Bank's injection of cash into banks throughloans and Greece's debt restructuring is raising optimism that theregion's sovereign crisis will be contained. The cost to borrow forEuropean non-financial companies has fallen at a faster rate thisyear than for issuers in the U.S., Bank of America Merrill Lynchdata show.
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