Bloomberg reported that with rates so depressed, corporations, which typically refinance debt that matures in one or two years, issued replacement bonds for credit that's due in four years, which doubled the potential number of clients for bankers.
According to data compiled by Bloomberg, corporate and sovereign borrowers issued $3.69 trillion in debt in 2012, generating $19.2 billion of fees for banks, both records.
Bloomberg quotes Jim Casey, co-head of JPMorgan's global debt capital markets, as saying "2012 was so spectacular that it deserves a moniker: the Year of Refinancing."
To get your company’s news included on the abfjournal.com site and published in the ABF Journal, contact Jerry Parrotto, Editor, at 800.708.9373 x153 or e-mail news to jparrotto@abfjournal.com.
If you would like to search our News Archives, please click here
