Europe's Debt Market Is Corporate America's Bazaar Again
- ‘Reverse Yankee’ issuance trend rebounding from tepid 2018
- Lower borrowing costs overseas spur U.S. issuers to diversify
The River Main flows past commercial and residential property as skyscrapers stand in the financial district as the city skyline is seen from the 15th floor pantry area inside the European Central Bank (ECB) headquarters in Frankfurt.
Photographer: Alex Kraus/BloombergThis article is for subscribers only.
European debt markets have suddenly become more appealing to some big American corporations again, spurred in part by monetary policy changes.
Several American household names have recently crossed the pond to issue debt in Europe. Companies such as Altria Group Inc., Coca-Cola Co., Ford Motor Credit Co. and International Business Machines Corp., among others, together have sold almost 18 billion euros ($20.2 billion) in so-called reverse Yankee bonds this year.