JPMorgan Sells First 30-Year U.S. Bank Bonds Since January
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JPMorgan Chase & Co. is taking advantage of its stature as the most creditworthy of the largest U.S. banks with its $1.75 billion sale of 30-year bonds, the first from an American financial firm in almost six months.
The second-biggest U.S. bank issued the 5.6 percent notes today to yield 140 basis points, or 1.4 percentage points, more than similar-maturity Treasuries, according to data compiled by Bloomberg. Goldman Sachs Group Inc., the last U.S. bank to sell debt with such a long tenor, raised $2.5 billion of the securities at a spread of 170 basis points on Jan. 21.