Refi's Ruled Last Week
New corporate bond issue volume was pretty low last week. Five of the biggest issuers were redeeming notes or paying down loans. All five of the companies profiled priced their deals before the Fed's Wed meeting and subsequent climb in rates. Ingersol-Rand, Mylan and Rite Aid should all save quite a bit in interest payments as a result of refinancing.
Only two issues priced after Wed, not sure if that was companies holding off waiting to see if rates would come back down of just the random nature of the calendar.
Fool on! Russ