The corporate credit markets served up a full plate last week, with Bloomberg reporting more than $38 billion in sales, the most in five months. Just three companies swiped their corporate credit cards for over one-third of the total. Who's doing all that borrowing and what are they doing with the money? Here are a few of the stories.
Next in the multibillion-dollar club is miner Peabody Energy
Continuing the refinance story, Dr Pepper Snapple
All five of these issues show companies continuing to take advantage of low interest rates to buy back shares, fund acquisitions, call higher rate paper, or lock in low rates while they're here. Companies are busy selling bonds to buy equity in themselves or acquire other firms. Foolish investors should think carefully before taking the other side of that trade.