“Speculative-grade borrowers raised about $26 billion of debt this month, more than double what was sold in October. That made it the busiest month for the riskier borrowings since May. Issuance was dominated by companies whose credit profile is on the rise and those who were willing to pay up. Investors are more discerning in a junk-bond market where a rout in commodities may leave them with the first loss since 2008. And even as issuance of the debt picked up this month, this year’s tally of $275.6 billion is down by 21.6 percent from last year’s pace.”
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