Market Extra
Higher quality bonds met with ‘very robust demand,’ says Kurpis at AllianceBernstein
Investors were busy adding new Walmart bonds to their carts on Wednesday, as credit markets show signs of life after new issuance nearly paused followed the collapse of two regional U.S. banks in March.
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Mega retailer Walmart borrowed $5 billion in the corporate bond market on Wednesday, with strong investor demand dialing back borrowing costs for the national chain.
Walmart WMT, a big-box retailer with AA credit ratings, was initially expected to raise about $4 billion, but increased its borrowing size and trimmed pricing after order books shaped up to around $20.5 billion, according to Informa Global Markets.
“If…
