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Hellenic Petroleum SA increased the size of its debut bond while Greek refrigerator equipment supplier Frigoglass SA is also planning its first note sale, as investors seeking riskier assets boost demand for securities from Europe’s most indebted nation.
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Telefonica SA bonds fell in Europe as Spain’s largest phone company offered 1.5 billion euros ($2 billion) of 10-year securities.
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Portugal’s downgrade to junk may stifle corporate bond sales in Europe, killing off a mini- revival in issuance spurred by investor optimism about Greece’s efforts to avoid default.
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Goldman Sachs Group Inc. is telling investors to buy European bank stocks for the first time in more than 16 months. Bond buyers are taking the opposite view on concern that policy makers will fail to staunch the debt crisis.
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Siemens AG, Europe’s biggest engineering company, led a resurgence in corporate debt sales after the slowest February in three years.
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Federal Reserve Chairman Ben S. Bernanke is fueling a record-long winning streak in corporate debt as the money he pumps into the economy spurs investors to seek riskier assets to generate returns.
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The cost of insuring against losses on European government bonds fell on speculation pressure from euro-region central bankers will force Ireland to accept an international bailout that would calm markets.
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Goldman Sachs Group Inc. unseated Deutsche Bank AG as Europe’s top underwriter of high-yield bonds in the first half.
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Magyar Telecom BV bonds fell to a record after the company said it will review its capital structure, while debt sales slowed in Europe.
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Companies are borrowing the most in the loan market since 2008 to finance acquisitions worldwide, betting that they can quickly replace the debt with permanent financing as yields on corporate bonds fall to records.