HCA, the hospital operator, has sold the second largest US high-yield bond, as junk bond issuance reaches an all-time high.
Bank of America, Citigroup, Deutsche Bank, JP Morgan, Merrill Lynch and Wachovia Securities led a $5.7bn (€4.4bn) issue from HCA to finance its record $33bn leveraged buyout by Kohlberg Kravis Roberts Merrill Lynch Private Equity, Bain Capital Partners and the Frist family.