According to Reuters, borrowers this past week responded to investor demands for protection against rising interest rates by adding floating-rate tranches to their deals and issuing primarily shorter-dated maturities.

Reuters said so far this year there has been $32.3 billion of investment-grade floating-rate notes issued, more than double the $13.0 billion issued in the entire second half of 2012.

Reuters notes that investors have increasingly demanded shorter-maturity fixed-rate notes, which do not sell off as much as bonds of seven years or more when Treasury rates rise.

To read the Reuters story, click here.