Tobacco.org

Altria Raises $6 Billion in Biggest Corporate Sale Since May  

Altria Group Inc., the maker of Marlboro cigarettes, sold $6 billion of notes in the company's biggest ever bond sale and the largest deal in the U.S. market since May.

Altria's sale is almost equal to the $6.7 billion of issuance in all of last week, according to Bloomberg data. The largest U.S. tobacco maker sold the debt in three-parts as yields over benchmark rates on corporate bonds fell for a second day.

``There is a trickle of new deals coming in,'' said Scott MacDonald, head of research at Aladdin Capital Management LLC in Stamford, Connecticut, which manages about $17 billion in assets. ``The bond market is open for a limited number of companies that have demonstrable cash flow.''

Jump to full article »