Exxon Mobil Corp. raised $12 billion in its biggest bond sale on record and may use the funds to snap up rivals amid a commodities bust.
The world’s largest oil company, which is at risk of losing its top-notch credit rating, sold the debt in eight parts at above average yields, according to data compiled by Bloomberg. The sale comes after Moody’s Investors Service cut Exxon’s outlook from negative to stable on Feb. 25 and warned that the oil-market collapse imperils cash flow needed to cover debt payments and new investments.
Brazil Energy Insight 
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