JPMorgan Sells $3 Billion Bonds in Post-Earnings Bank Boom
- Follows Goldman, BofA, Morgan Stanley with high-grade offering
- JPM ‘most susceptible to regulatory-driven’ pressures: analyst
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JPMorgan Chase & Co. sold $3 billion of bonds in the U.S. investment-grade market, adding to a streak of debt transactions from big Wall Street banks including Citigroup Inc., Goldman Sachs Group Inc. and Bank of America Corp.
The biggest U.S. bank priced bonds in a single-tranche transaction, according to a person with knowledge of the matter. The bonds maturing in 11 years yield 0.97 percentage point above Treasuries, after initial discussions in the 1.15 percentage points area, said the person, who asked not to be identified as the details are private. The bank is the sole manager of the sale, the person said.