Banker: Big uptick in chemical industry debt financing

The first half of this year saw a large increase in debt financing by chemical companies, doubling to $11.6 billion from the first half of 2011, according to data compiled by Young & Partners (Y&P; New York), an investment bank. High-yield debt markets, whose volume more than tripled from the first half of last year, to $6.8 billion, drove the increase. Investment grade issuance posted a 27% year-on-year increase, to $4.7 billion, Y&P says. “Although there have been concerns around the global economy and the financial environment, the search for...

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