JPMorgan Leads Companies Borrowing $15.6 Billion With BondsCharles Mead
JPMorgan Chase & Co. was among borrowers including State Street Corp. and Statoil ASA selling at least $15.6 billion of bonds in the U.S. today.
The biggest U.S. bank issued $2 billion of 1.625 percent, five-year notes at narrower relative yields than those on similar-maturity debt sold four months ago, according to data compiled by Bloomberg. A spread of 92 basis points more than similar-maturity Treasuries compares with an extra yield of 103 basis points for $1.25 billion of 1.8 percent, five-year debentures that New York-based JPMorgan sold Jan. 17.
Statoil, the largest Norwegian energy company, sold $3 billion of debt in a four-part offering that included $900 million of 2.65 percent bonds due 2024 that pay 90 basis points more than Treasuries, $850 million of 30-year, 3.95 percent debt with an extra yield of 95 basis points, $750 million of 1.15 percent notes maturing 2018 that pay 45 more than benchmarks and $500 million of similar-maturity, floating-rate bonds that yield 29 basis points more than the London interbank offered rate.
State Street, the third-largest custody bank, sold $1 billion of 3.1 percent, 10-year bonds that yield 135 basis points more than Treasuries and $500 million of 1.35 percent debt due 2018 with a spread of 62.5, Bloomberg data show.
Other issuers today included Warren Buffett’s Berkshire Hathaway Inc., HSBC Holdings Plc and Brinker International Inc., the owner of the Chili’s and Maggiano’s dining chains. Libor, the rate at which banks say they can borrow in dollars from each other, was set at 0.275 percent today.