Companies hit hard by the downturn also opted to issue bonds to raise cash last year — a record $2.28 trillion, 60 percent more than in 2019, according to figures from the Securities Industry and Financial Markets Association. This was an attractive solution after the Fed cut rates and even began buying up corporate bonds itself to steady the market.But issuing stock has its own appeal. For one, it’s not debt that needs to be paid back. Over all, companies issued $342 billion of stock last year, 76 percent more than in 2019. Initial public offerings brought in $85 billion of that sum, which means that …
