Borrowing for a Buyback is Back
After several weeks, we finally got some activity in new corporate bond issues to write about.
Halliburton's borrowing to fund a share buyback, Celgene may or may not be doing lots of things, Dana Holdings and Wellpoint are borrowing to finance tender offers, Kinder Morgan Partners has an acquisition to pay for.
And, as a bonus for CAPS readers, Alcatel Lucent is shifting its maturity profile as part of a business refocusing effort it calls Shift Plan.
It'll be interesting to see if the activity continues to make boring old bonds not quite so boring.