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Companies Sell $5 Bln In Debt, Including Hess, CNA
NEW YORK — Hess Corp. and CNA Financial Corp. are expected to join some big financial bond issuers selling debt on Thursday, according to Informa Global Markets. Energy company Hess will sell $1.25 billion in bonds, which the firm said will finance an acquisition of Norwegian North Sea oil fields announced in June. Insurer CNA is selling $500 million, while UBS AG is selling more than $1 billion, according to Informa. HSBC Holdings Plc is selling 3-year and 10-year debt, Informa said. In just three business days, companies have sold 34 deals totaling $24.75 billion in investment-grade debt.
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