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The New Threat to Energy-Company Bonds: Virus Fears

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Investors have lost their recent appetite for energy companies’ debt as the coronavirus has spread, creating challenges for companies still needing financing

The economic threat posed by the coronavirus is helping erode demand for energy-company debt just weeks after bond issuance in the sector surged, highlighting the virus’s far-reaching effects on companies and financial markets.

Early last month, a surprise rally in the debt of energy companies allowed oil and gas businesses to issue the largest amount of speculative-grade bonds in one week since just before oil prices crashed in the fall of 2014.

 

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