The skyscraper housing the Citigroup Inc. offices stands at 25 Canada Square in the Canary Wharf business, financial, and shopping district in London. Photographer: Chris J Ratcliffe/Bloomberg.

A record number of blue-chip firms swarmed the U.S. corporate bond market on Tuesday, taking advantage of cheaper borrowing costs as they look to issue debt ahead of the U.S. presidential election.

Ford Motor Credit Co., Target Corp., and Barclays Plc were among 29 companies tapping the bond market, the busiest single sales day for the market on record by number of issuers, according to data compiled by Bloomberg. Debt underwriting professionals at banks expect corporations to borrow about $125 billion through U.S. high-grade bond sales in September.

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