US High-Grade Bond Sales Reach Their Highest Level Since 2020

Annual US investment-grade corporate bond sales have reached their second-highest level ever as companies capitalize on lower borrowing costs to refinance debt, fund acquisitions and invest in AI initiatives.

Supply of $1.499 trillion has edged last year’s total of $1.496 trillion following Tuesday’s four-deal session, according to data compiled by Bloomberg News. While issuance is unlikely to reach 2020’s record $1.75 trillion, borrowers have benefited from a favorable environment this year, with strong investor demand and central banks around the world lowering policy rates.