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Companies Sell More Long Debt

Borrowers from Morgan Stanley to FedEx sell 30-year bonds amid record-low yields.

By Charles Mead, Bloomberg | Updated on August 13, 2012

Sales of longer-term bonds are accelerating at a record pace in the U.S., with corporate borrowers from Morgan Stanley to FedEx Corp. each selling 30- year debt for the first time in at least a decade.

Issuance of investment-grade bonds maturing in 30 years or more totals $83.6 billion since year-end, already exceeding the annual total in 2010 and 2011, according to data compiled by Bloomberg. Offerings are growing about six times faster than the overall high-grade market.

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