Apparel company Phillips-Van Heusen agreed to buy fashion brand Tommy Hilfiger from London-based Apax Partners in a cash and stock deal for about $3 billion to boost its presence in Europe and Asia. It expects to use $3.05 billion debt, $385 million cash at hand, $200 million perpetual convertible preferred stock and $200 million from a common stock offering to finance the deal and refinance certain other debt.

Consol Energy agreed to buy Dominion Resources Inc’s Appalachian natural gas properties for $3.48 billion in cash, giving Consol a leading position in the growing Marcellus Shale field. It too is going to the debt markets to finance the deal, though for how much exactly is not yet known, Consol’s shares fell more than 9 percent after it said it would issue $4 billion in debt and equity to fund the purchase and development of the property.

Do two deals announced in one day make a trend? Maybe only in a blog, though CNBC’s David Faber also noted the rising use of borrowing. But it is at least probably safe to say that debt finance is appearing healthier than it has in months. With the Federal Reserve expected to say tomorrow it is ready to keep money cheap for months to come, the prospects for more of the same are looking bright.