Fitch Ratings says corporate bond issuance was off to a record start in 2015 due to low interest rates, with volume registering $115.7 billion through the end of February - an 18% increase over the first two months in 2012 and a 30% rise compared with 2014.
"Healthcare and pharmaceuticals contributed 17% of 2014 volume, up from 10% in 2013. The fourth quarter accounted for 42% of the sector's total issuance, led by Medtronic's $17 billion transaction, the largest of the year. Energy, utilities and infrastructure comprised 23% of the 2014 volume; however, technology, media and telecom new volume fell 24% on a year-over-year basis," said Eric Rosenthal, Fitch Ratings senior director.
