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Bank of America Joins Post-Earnings Bond Frenzy With Six-Part Debt Offering

  • Offering comes just a day after JPMorgan raised $13 billion
  • Capital needs, cheap borrowing rates are spurring jumbo deals
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Bank of America Corp. is poised to sell $15 billion of bonds, setting a fresh record for the largest bond sale by a bank just a day after rival JPMorgan Chase & Co. sold what was then the biggest such offering, according to data compiled by Bloomberg.

Investors poured about $25 billion of orders into the deal, according to a person with knowledge of the matter, which will help BofA borrow at cheaper rates than it initially offered. JPMorgan raised $13 billion on Thursday.