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Target, McDonald’s announce bond offerings

The logo for McDonald’s restaurant is seen as McDonald’s Corp. reports fourth quarter earnings, in Arlington, Virginia, U.S., January 27, 2022. REUTERS/Joshua Roberts

(Reuters) – Target Corp (NYSE:TGT) will raise about $1 billion in bonds and McDonald’s Corp (NYSE:MCD) about $1.5 billion, the companies disclosed in separate filings on Tuesday.

Target is offering $1 billion in notes due 2032, while McDonald’s is offering about $1.5 billion in two-part bonds due 2052 and 2032.

The move comes ahead of a Federal Open Market Committee meeting scheduled for September 20-21, where the Fed is expected to decide on whether to go for another 75bp rate increase.

Earlier on Tuesday, IFR reported that at least 19 investment-grade bond deals were expected to price, as issuers and investors get ready for what is expected to be a busy post-Labor Day session.

Separately, Lowe’s (NYSE:LOW) Cos Inc also announced pricing of a four-part notes offering at $4.75 billion.

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