Companies have sold more euro-denominated bonds so far in 2009 than in any other full year, reflecting the shift in corporate funding sources away from bank lending.

US pharmaceutical company Pfizer on Wednesday helped break the records for bonds sold by investment grade borrowers in euros. The company sold €5.8bn ($8.1bn) equivalent of euro-denominated bonds with four-, seven- and 12-year maturities as well as a £1.5bn ($2.4bn) 29-year sterling denominated bond.