Blue chips fuel US$43bil global debt frenzy

BOND BLITZ: A combination of favourable borrowing costs and the need to get ahead of the US election has fuelled the issuance spree. — AP

NEWYORK: Companies globally are piling into debt markets to sell bonds and loans while they still can.

Ford Motor Credit Co, Formula 1, Brazil’s Petrobras and Saudi Arabia’s sovereign wealth fund were just a handful of the issuers tapping debt markets on Tuesday, capitalising on cheap funding costs ahead of potential spikes in yields in the coming months tied to the US presidential election.