Before credit markets from New York to London seized up a year ago, investment-grade companies could sell record amounts of debt in days. It took Tyco Electronics Ltd. Treasurer Mario Calastri 12 months to complete the bond sale he began last July.
“In the current rate environment, nobody really wants to stick their neck out,” Calastri, 51, said. He’s one of more than 60 treasurers forced to wait months, reduce borrowings or accept less favorable terms as the turmoil that began a year ago stifles investor demand.
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