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A Big, Busy, Bond Week



November 14, 2011 – Comments (0)

Companies tapped the bond market for over $38 billion last week.  And, a fair number of the SEC filings had real information rather than just "general corporate purposes" in the use of proceeds section.  Among the highlights:

 - A big buyback for Amgen, with the door open for more.

 - Teva issuing bonds to repay commercial paper used to buy Cephalon

 - Peabody Energy financing its buyout of Australian miner Macarthur Coal.

 - Windstream calling some bonds early and setting the stage to pay off some high yield debt that's coming with its PAETEC acquisition.

 - Dr. Pepper Snapple paying off some maturing two-year paper with new 7 and 10 year notes.

The Peabody / Macarthur deal looks interesting.  The deal is a part of expanding operations to serve coal demand from China and other growing, Pacific economies.  It's also a great example of the global business markets with players from Europe, China, and Korea involved in addtion to the two key players from Australia and the US.

Fool on!


Disclosure - no position in any company mentioned.



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