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Bond Sales Smash Record in Q1

Low borrowing costs elicit $430 bln of corporate issuance.

By Sridhar Natarajan, Bloomberg | Updated on March 29, 2012

Heineken NV, the biggest Dutch brewer, and baker Flowers Foods Inc. tapped the U.S. bond market for the first time as sales soared to a record $430 billion in the first three months of 2012.

Heineken sold $750 million of 10-year notes, boosted from earlier plans to sell $500 million, which yield 127 basis points more than similar-maturity Treasuries, according to data compiled by Bloomberg. Thomasville, Georgia-based Flowers Foods raised $400 million of 10-year bonds that pay a spread of 225 basis points, Bloomberg data show.

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