Billion-Dollar Corporate Bond Deals Hit Treasuries: Markets Wrap
- Meta raises $8.5 billion to lead investment-grade issuance
- Other notable issuers Monday include Hershey and Comcast
This article is for subscribers only.
A renewed bout of selling hit the Treasury market, with factory data bringing little comfort on the inflation front and a handful of companies offering bonds ahead of the Federal Reserve decision.
As Wall Street gears up for the Fed’s 10th consecutive rate hike since March of last year, several borrowers are piling in after exiting their earnings blackouts, with US investment-grade issuance hitting over $22 billion in one of the busiest sessions of 2023. Among notable firms tapping the market: Meta Platforms Inc. raised $8.5 billion, Comcast Corp. priced a $5 billion deal and Hershey Co. sold $750 million in bonds.