date:Apr 02, 2014
Wal-Mart Stores Inc. (WMT) is selling bonds in euros for the first time since 2009 as the cost of borrowing in the currency relative to U.S. dollars approaches the lowest in more than five years.
The worlds largest retailer, based in Bentonville, Arkansas, is marketing a total 1.5 billion ($2 billion) of eight- and 12-year bonds, according to a person familiar with the sale. The average yield on investment-grade corporate bonds in euros dropped 25 basis points this year to 1.88%, 1.34 percenta