Bonds sold to help US utilities recoup losses from natural disasters are seeing an unprecedented boom, with the latest burst of issuance generated by the deadly February 2021 storm that paralyzed Texas as it struck a large swath of the country.
A record $17 billion of the debt, known as recovery bonds, has been sold this year, with the total likely to soon surpass $20 billion, data compiled by Bloomberg show.
Buy-and-hold investors such as insurers have been key purchasers, and the deals have also drawn money managers including
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