Sysco Issues $15.7B Multi-Tranche Debt to Fund JRD Deal
Sysco closed $15.7B in senior and junior subordinated notes on Oct 6 to finance its acquisition of JRD Unico, locking in coupons up to 7.35%.
corporate bonds
Option-Adjusted Spread: How OAS Measures Bond Risk
Learn what Option-Adjusted Spread (OAS) is, how it strips embedded call risk from bond yields, and why credit investors use it to value corporate bonds.
Clean Harbors Closes $775M Deals Funded by $600M Notes
Clean Harbors completed $775M acquisitions of EnviroServe and ES&H, financing the transactions via cash and $600M of 6.250% senior notes due 2034.
Fallen Angels vs. Rising Stars: How Bond Migrations Work
Learn what fallen angels and rising stars are in corporate bond markets, how credit rating migrations trigger forced selling, and why spreads widen.
Minerals Tech Prices $400M Senior Notes Due 2032 at 7.500%
Minerals Technologies priced $400M of 7.500% senior notes due 2032 to redeem 5.000% debt due 2028 and expand its credit facility to $500M.
OpenText Prices $300M Debt Tender Amid $697M Demand
OpenText priced its $300M debt tender for 2028 notes at $981.71, applying a 43.05% proration factor after receiving $697.56M in tenders.
Kimberly-Clark Launches $7B Debt Exchange for Kenvue Notes
Kimberly-Clark commenced an exchange offer for up to $7B of Kenvue notes with an early tender premium as it restructures debt for its planned acquisition.
Kyndryl Closes $1B Senior Notes to Refinance 2.05% Debt
Kyndryl closed a $1B dual-tranche senior notes offering to repay $700M of 2.05% debt due in 2026, navigating higher interest rates to extend maturities.
AI Debt Costs Surge as 10-Year Treasury Yield Hits 5.17%
As the 10-year Treasury yield reaches 5.17%, corporate borrowing costs are surging across the $4.1T AI buildout, pushing high-yield coupons near 10%.
DICK’S Prices $1.0B Senior Notes Due 2036 and 2056
DICK’S Sporting Goods closes $1.0B senior notes offering across 10-year and 30-year tranches, securing $988M net proceeds for corporate flexibility.