The only people more addicted to debt than American consumers, it appears, are the executives running the country's public companies. Corporate America had more than $4 trillion in debt outstanding at the end of the first quarter, according to estimates by the Bond Market Association. With that kind of weight on their balance sheets, it's no wonder companies are rushing to take advantage of historically low interest rates by refinancing and issuing convertible securities. Tech firms have led the pack in this convert-athon by issuing $14.2 billion in bonds from Jan. 1 to June 4, according to Standard & Poor's; that compares with $10 billion for the same period in 2002.
展开▼
