September 27, 2021

Borrowers Storm U.S. High-Grade Bond Market With 21 Deals

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(Bloomberg) — Corporate America is rushing to sell bonds in a post-Labor Day borrowing binge unlike any in recent memory.

Caterpillar Inc. is leading at least 21 companies tapping the U.S. investment-grade market, putting Tuesday among the busiest days ever by deal count. Other names looking to issue new debt include Home Depot Inc. and the financing arm of American Honda Motor Co.

The week after Labor Day is normally one of the busiest of the year. Forty-six issuers sold over $68 billion the same period last year. Wall Street investment-grade syndicate desks are projecting between $40 billion to $45 billion for this week, with about half of the volume expected to come during Tuesday’s session. The dealers are calling for $130 billion to $140 billion for…

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