Azernews.Az

By Bloomberg

McDonald’s Corp. is selling bonds in euros as the world’s biggest restaurant chain joins a record funding surge by U.S. issuers in the single currency.

The company is marketing a four-part deal with bonds maturing between 2019 and 2035, according to a person familiar with the matter, who asked not to be identified because they’re not authorized to speak publicly. United Technologies Corp. is selling its first debt in euros, according to a separate person familiar with the matter.

U.S. borrowers from BlackRock Inc. to Coca-Cola Co. have issued a record 49.8 billion euros ($56.7 billion) of bonds this year, more than double the 22.5 billion euros sold in the same period of 2014, data compiled by Bloomberg show. The companies are taking advantage of lower borrowing costs in the region compared with the U.S., with average yields on investment-grade bonds in euros almost two percentage points lower than those in dollars, according to Bank of America Merrill Lynch index data.

London-based officials at McDonald’s weren’t immediately able to comment on the sale, while officials at Hartford, Connecticut-based United Technologies couldn’t be reached by phone outside of office hours.

McDonald’s is selling notes due in 4 1/4 years, as well as securities maturing in seven years, 12 years and 20 years, according to the person familiar with the deal. The Oak Brook, Illinois-based company hired Bank of America Corp., Goldman Sachs Group Inc., JPMorgan Chase & Co. and Morgan Stanley, the person said.