By Jaspreet Kalra
(Reuters) -U.S. companies are lining up to borrow in euros with bond sales hitting a record $100 billion so far this year, reflecting attractive European funding conditions and a growing willingness among issuers and investors to shift away from the dollar.
The likes of Google-parent Alphabet, Visa, PepsiCo, payments firm Fiserv and Verizon have sold bonds denominated in euros recently.
This offshore fundraising, called “reverse Yankees” in a nod to Yankee bonds sold by foreign companies in the United States, is up from just over $78 billion for the whole of 2024, LSEG data shows.
The trend is seen as positive for the euro given the dollar’s 10% drop this year on concerns about erratic U.S. trade policy and as European Central Bank chief Christine Lagarde urges a “global euro moment”.
“There is a wall of currency ready to be deployed into European credit,” said Matteo Benedetto, EMEA co-head of investment grade…
