Breaking News: Record-Breaking Day in Financial Markets as 29 Borrowers Raise $43.275 Billion!
In a historic day for the financial markets, a total of 29 borrowers tapped the market, pricing a record-breaking 53 tranches. This incredible feat, reported by Mischler Financial, marks the most tranches ever priced in a single day, resulting in a total of $43.275 billion in proceeds raised.
The sovereign, supranational, and agency (SSA) space also saw significant activity, with two issuers across three tranches raising $3.05 billion. This boosted the overall investment-grade total to 31 issuers and 56 tranches, ultimately raising a staggering $46.325 billion – yet another record-breaking achievement.
This surpasses the previous record set on September 5, 2023, when 20 investment-grade corporate deals priced 46 tranches. Mischler managing director Ron Quigley expressed his excitement, stating, “Records were made to be broken, but we obliterated it today!”
Furthermore, Quigley highlighted the remarkable context of the day’s achievements, noting that despite the VIX rising by +33.25% to 20.72 and the Bloomberg/Barclays US IG Corporate Bond Index OAS widening by +4.00 basis points to +97, the market still saw unprecedented success.
Looking back at August, borrowers raised $106.695 billion in investment-grade corporate deals, marking the fifth-highest volume for August in the last decade.
In summary, this record-breaking day in the financial markets showcases the incredible potential for growth and success in the investment landscape. It serves as a reminder of the opportunities available for investors to capitalize on market trends and make informed decisions to secure their financial futures.