Europe's comeback from the brink is extending to the region's corporate debt market, where borrowers are selling bonds at the fastest pace in two years.
Fiat SpA, Italy's biggest manufacturer, Daimler AG and Electricite de France SA led 6.6 billion euros ($8.7 billion) of offerings in the busiest day of issuance since Jan. 12, 2010, according to data compiled by Bloomberg. Daimler in Stuttgart, Germany raised 750 million euros after boosting the sale from 500 million euros, while EDF in Paris sold 1.6 billion euros of bonds and Fiat issued its first benchmark deal since July.
The European Central Bank's injection of cash into banks through loans and Greece's debt restructuring is raising optimism that the region's sovereign crisis will be contained. The cost to borrow for European non-financial companies has fallen at a faster rate this year than for issuers in the U.S., Bank of America Merrill Lynch data show.
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