OAO Lukoil and Softbank Corp. led sales of at least $24.6 billion this week in the U.S. as relative yields widened.
Lukoil, Russia's second-largest oil producer, raised $3 billion in its first sale in more than two years and Tokyo-based Softbank issued $2.49 billion in dollars, according to data compiled by Bloomberg. Offerings, which were in line with $24.7 billion last week, held below the $27.9 billion weekly average from the past 12 months for a fourth straight period.
The extra yield investors demand to own corporate bonds rather than government debentures widened to 217 basis points yesterday from 215 basis points on April 12, according to Bank of America Merrill Lynch index data. Yields decreased to 3.44 percent yesterday, near a record-low 3.4398 percent on April 15, from 3.45 percent at the end of last week.
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