Corporate Borrowing & Debt

The three-part deal’s longest-tenored tranche yields 0.98 percentage point above Treasuries.

Companies borrowed $207 billion in the U.S. investment-grade market last month.

For investment-grade borrowers, “the timing could not be better. ... New-issue concessions are absent, with massive order books for every deal.”

The technology giant—which has nearly doubled in value this year—is issuing debt in six parts, including a rare 40-year bond.

Twenty-seven U.S. issuers sold a total of $43.3 billion of debt yesterday, the third-largest volume ever.

“Issuers are very much incentivized to announce deals today to take advantage of lower rates. The market is fully open.”