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Cash Hoards Reduce Bond Sales

Global corporate bond issuance in April on pace to be slowest in six years.

By dhar Natarajan and Sarika Gangar, Bloomberg | Updated on April 27, 2012

Global corporate bond issuance is poised for the slowest April in six years as companies reduce their reliance on debt markets while sitting on cash reserves that are about the highest on record.

Company bond sales worldwide have declined 53 percent to $190 billion through yesterday, the least for an April since 2006, according to data compiled by Bloomberg. The slowdown follows a record $1.17 trillion of deals in the first quarter, when strains from Europe’s debt crisis eased and companies borrowed at interest rates that approached the lowest ever.

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