Target, McDonald's Seek To Raise $2.5B Via Bond Offerings

Target, McDonald's Seek To Raise $2.5B Via Bond Offerings
  • In separate SEC documents, Target Corporation TGT filed to raise about $1 billion in bonds due 2032 and McDonald's Corp MCD about $1.5 billion in two-part bonds due 2052 and 2032.
  • As per the Reuters report, the move comes ahead of a Federal Open Market Committee meeting scheduled for September 20-21, where the Fed is expected to decide on whether to go for another 75 bps rate increase.
  • Yesterday, IFR reported that at least 19 investment-grade bond deals were expected to price as issuers and investors get ready for what is expected to be a busy post-Labor Day session.
  • Separately, Lowe's Companies Inc LOW also priced four-part notes offering at $4.75 billion.
  • Price Action: TGT shares closed at $163.58 on Tuesday. MCD shares are down 0.16% at $254.04 during the premarket session on the last check Wednesday.

Posted In: BriefsConsumer DiscretionaryHome Improvement RetailRestaurantsLarge CapNewsOfferingsRestaurantsGeneral