Business looking to bonds

Despite high interest rates, major corporations will rely heavily on new bond issues to meet their financing needs during the next 12 months, according to a Conference Board survey of 34 senior financial officers of US corporations.

A rising percentage of these executives plan to increase their use of external funds during the next year. About half of those surveyed will step up their use of bond issues and private placements, with most expecting increases of 10 percent or more in the use of these long-term funds.