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.
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