The selloff in bond markets isn't deterring corporate issuers around the world from heading to Europe to take advantage of borrowing costs that are less than half of those in dollars.

For the first time since at least 2009, companies based outside the 19-nation euro-area have sold more notes in the single currency than those within it, according to data compiled by Bloomberg. Foreign investment-grade borrowers, excluding financial firms, have raised 68 billion euros ($76.5 billion), more than double the amount sold in the same period last year and exceeding 52 billion euros by local issuers.

Sales are surging as the European Central Bank's unprecedented stimulus keeps the region's borrowing costs near record lows — even amid a rout that's erased $433 billion of value from global bonds in less than a month. Asset manager Blackstone Group sold euro debt for the first time on Tuesday, U.S. Scotch tape maker 3M Co. is issuing in the currency on Wednesday and Australian toll-road operator Transurban Group is among those in the pipeline.

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