Goldman Sachs Raises $1.25 Billion With Floating-Rate Bond Sale

Goldman Sachs Group Inc. (GS), the Wall Street bank that generates the highest percentage of revenue from trading, sold $1.25 billion of five-year, floating-rate notes.

The bonds pay 120 basis points more than the quarterly London interbank offered rate, according to data compiled by Bloomberg. That compares with a spread of 125 basis points for $700 million of similar-maturity floating-rate debt that the New York-based lender issued in February.

Those securities, rated A3 by Moody’s Investors Service and A- at Standard & Poor’s, traded yesterday at 100.6 cents on the dollar.

Libor, the rate at which banks say they can borrow in dollars from each other, was set at 27.6 basis points today.

To contact the reporter on this story: Charles Mead in New York at cmead11@bloomberg.net

To contact the editor responsible for this story: Alan Goldstein at agoldstein5@bloomberg.net

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