DuPont Co. and the European Investment Bank led issuers that sold almost $13 billion of debt in the U.S. last week
Published:
3 May 2004 y., Monday
DuPont Co. and the European Investment Bank led issuers that sold almost $13 billion of debt in the U.S. last week, the most in four weeks, as borrowers raised funds before a possible increase in interest rates.
DuPont, the second-biggest U.S. chemical maker after Dow Chemical Co., sold $500 million of 10-year notes and $900 million of six-year notes. The European Investment Bank, which helps fund European Union projects, issued $1.5 billion of 10-year notes. New debt sales totaled about $10 billion the previous week.
The sale of bonds increased during a week when a U.S. government report showed inflation may be accelerating. The yield on the 10-year Treasury note, a base for pricing corporate debt, rose 5 basis points, or 0.05 percentage point, last week to 4.51 percent and has climbed almost 75 basis points in six weeks.
Borrowers are trying to sell debt before the Federal Reserve raises its overnight lending rate, said Joe Jackson, a portfolio manager at BB&T Asset Management in Raleigh, North Carolina.
The Fed's lending rate has been at a 45-year low of 1 percent since June. It hasn't been increased since May 2000.
Šaltinis:
bloomberg.com
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
The EBRD is making a €4 million equity investment in Geofoto, a Croatian geodetic company offering mapping, geodetic survey, photogrammetry, geoinformatics and aerial survey services, to support its drive to expand operations on international level.
more »
Nordea came out of 2009 in an even stronger position, despite one of the most challenging years for decades. Risk-adjusted profit increased 22% and our capital position and cost of funding are among the best in Europe.
more »
MEPs gave the green light on Thursday for EU funding to help Europe's unemployed start up small businesses.
more »
MEPs are deeply concerned about the long-standing and growing presence of al-Qaeda, and the deteriorating security, social and economic problems in Yemen, which they think could destabilise neighbouring countries.
more »
At the start of a new decade, Sub Saharan Africa is reeling from the effects of three major global crises – food, fuel and financial – that have reversed many of the economic achievements of the last 10 years and left some growth projections at levels below those of 30 years ago.
more »
The 5th High-level Seminar of Central Banks in the East Asia-Pacific Region and the Euro Area was jointly organised by the European Central Bank and the Reserve Bank of Australia, in cooperation with the Hong Kong Monetary Authority.
more »
The EBRD and European Fund for Southeast Europe are boosting the availability of financing to private businesses in Moldova with a $10 million loan to ProCredit Bank in Moldova for on-lending to micro and small enterprises.
more »
The EBRD is supporting the development of the retail infrastructure in Croatia with a €68 million loan to finance the construction of a modern shopping centre in Split, the second largest city in Croatia.
more »
The European Bank for Reconstruction and Development has agreed to sell its 15 percent stake in OAO Swedbank Russia to its parent and major stakeholder, Sweden’s Swedbank AB, a move which would give it full ownership of its Russian subsidiary.
more »
The Ministers of Industry took the first steps in San Sebastián today to make the electric vehicle a reality in Europe and agreed that European institutions, with the EC at the head, should lead a common strategy on electric vehicles.
more »