Life sciences leverage

Oxford Finance LLChas leveraged a deep-pocketed parent company and consistent returns from issuing debt to development-stage life sciences companies to amass $530 million in new capital. The most recent addition to its war chest came this month via a $271.4 million bond offering.

Backing the bonds are 51 senior loans in Oxford's portfolio - 44 to life sciences companies and seven to healthcare service companies. The bonds pay 3.9% annual interest and have a class A2 rating from Moody's Investors Service...