Surging Yields Bring Biggest Spate of Debt Sale Delays This Year

Companies have postponed more than $5 billion in US and European debt sales this month as investors grow increasingly alarmed about rising interest rates, resurgent inflation, and potential cracks in the artificial-intelligence boom. The bond and loan sale delays have come from at least seven companies and mark the biggest spate of postponements this year. Just in the last week, AVI-SPL Inc. , a seller of audio-visual equipment, abandoned its plan to raise $690 million in the US leveraged-loan market and Mesirow Financial postponed the sale of $175 million of bonds backed by the mortgage on a midtown Manhattan office tower.