Credit is attractive for two reasons: 1. Interest rates have been held artificially low by the Fed and other Central Banks, which have also flooded the financi

Credit is attractive for two reasons: 1. Interest rates have been held artificially low by the Fed and other Central Banks, which have also flooded the financial markets with trillions of new dollars/euros/yen. 2. Interest payments are tax deductible, but dividends are not. Debt and equity should be treated equally. Also, there are now many weak corporate bonds (CoCo, convenant-light), which mean that bondholders have fewer rights and priorities in the line of creditors, should the company get into financial difficulties. So the debts are treated as bonds for the purposes of taxation, but the rights of the bondholders are little more than shareholders - a double whammy for the company makes it a simple decision.