U.S. companies not only are issuing more debt than ever. They're also extending it to durations never seen before.
The end result could be a good deal for the issuers but not as great for investors.
Average corporate debt maturity surged to 21.3 years in September, according to the latest data from the Securities Industry and Financial Markets Association. That's by far the longest duration since SIFMA began keeping such records in 1996. In relative terms, it was a one-month jump of 39 percent, a 45 percent gain from the full-year 2014 average and 147 percent higher than 10 years ago.
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