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Corporate Bond Sales Hit $49.9 Bln

Google, Johnson & Johnson lead second busiest week ever.

By Tim Catts, Bloomberg | Updated on May 20, 2011

Google Inc., the world’s largest Internet-search company, and AAA-rated Johnson & Johnson sold corporate bonds as issuance soared to $49.9 billion in the second-busiest week on record.

Google issued $3 billion of debt in a three-part offering, its first ever, according to data compiled by Bloomberg. J&J’s $3.75 billion offering included two-year notes paying the lowest interest rate for bonds of that maturity in records extending to 1999, Bloomberg data show. Sales accelerated 35.2 percent from a week earlier, when $36.9 billion was issued.

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