US corporate bond sales surge on positive job data
Issuance limited to investment-grade borrowers as China stock meltdown, weaker US equities and oil plunge still cloud outlook
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New York
CORPORATE bond sales in the United States surged on Friday as blue-chip companies jumped at the opportunity to take advantage of data showing resilience in the job market.
About US$9 billion of securities were sold, up from US$3.5 billion on Thursday, according to data compiled by Bloomberg. Kroger Co, the largest US supermarket chain, raised US$1.1 billion of debt in three parts. Simon Property Group Inc, the biggest US mall owner, issued US$1.35 billion.
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