When Aon Inc. priced $2 billion of notes maturing in 2056 to fund an acquisition, investors placed orders more than seven times the offering size. Long-dated debt has become scarce in the US high-grade corporate bond market.

Costs are rising, prompting firms to avoid long-dated bond offerings. The scarcity drove strong demand for Aon's notes.

The article was reported by Brian W Smith and Gerson Freitas Jr. on September 16, 2026.