Halliburton Company Led High-Grade Bond Issuance in November

US corporates were the biggest issuers of high-grade bonds in November, making up 35.6%, or $38.25 billion, of all issues. US financials were the second biggest issuers, making up 30.1% of all issues. Meanwhile, Yankees issued $23.95 billion worth of high-grade bonds and made up 22.3% of the total issuance.

Issuances by high-grade corporates form part of mutual funds like the T. Rowe Price New Income Fund (PRCIX) and the Strategic Advisers Core Income Fund (FPCIX).

Halliburton Company (HAL) had issued A2/A rated high-grade bonds worth $7.5 billion. Halliburton will use the proceeds to fund its acquisition of Baker Hughes (BHI). Halliburton had the largest issuance in November.

Lockheed Martin Corporation (LMT) had issued Baa1/BBB+ rated high-grade bonds worth $7.0 billion.

AstraZeneca (AZN) had issued A2/A rated high-grade bonds worth $6.0 billion. AstraZeneca will use the proceeds of the issue to fund the acquisition of ZS Pharma (ZSPH).

Chevron Corporation (CVX) had issued Aa1/AA rated high-grade bonds worth $5.0 billion.

Shell International Finance—a wholly owned subsidiary of Royal Dutch Shell (RDS.A) and the issuing vehicle for the group— had issued Aa1/AA- rated high-grade bonds worth $5.0 billion.