First US corporate bond launched since Trump tariff announcement

By Shankar Ramakrishnan

April 8 (Reuters) - Paychex PAYX.O announced the sale of a three-part bond on Tuesday, the first corporate bond offering to be launched since primary markets dried up after Trump imposed sweeping tariffs on U.S. imports last Wednesday.

Paychex, a provider of human resources, employee benefit and payroll services, is using the bond to pay for its $4.1 billion acquisition of Paycor HCM, announced in January.

Paychex is selling bonds with maturities of five, seven and 10 years. The decision to launch the bonds came against the relatively amenable backdrop of a rebound in stocks, said one syndicate banker.