Japan Companies Scoops Up Cash in Busiest Day for Bonds in 2020
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Companies are taking a break from selling debt in the U.S. as markets brace for Covid-battered earnings results beginning next week.
Measures that weigh corporate credit risk rose to nearly two-week highs amid a surge in U.S. coronavirus cases while investment-grade and high-yield spreads have backed up slightly, contributing to a softer issuance tone in both markets. No new bonds were announced Friday morning, but Blue Racer Midstream LLC withdrew its $400 million deal due to “unfavorable conditions in the debt capital markets” and Carpenter Technology Corp. wrapped up its note offering.