Walmart, McDonald’s Kick Off Post-Labor Day Borrowing Spree
- At least 18 high-grade issuers expected to begin busy month
- Around $150 billion of blue-chip issuance anticipated
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The expected post-Labor Day high-grade borrowing rush is underway, with Target Corp., Walmart Inc., McDonald’s Corp., Lowe’s Cos., and Nestle SA among the companies tapping the US investment-grade market Tuesday.
Eighteen issuers are selling new debt, with more deals possible. Companies are rushing into the market despite increasing volatility and higher borrowing costs over the last several weeks. Syndicate desks say there’s a desire to lock in funding needs ahead of the Federal Reserve meeting later this month.