Goldman Sachs Sells $10 Billion of Bonds After Earnings

Goldman Sachs Group Inc. sold $10 billion of investment-grade bonds on Tuesday, its largest issuance in nearly four years, after posting record third-quarter revenue, becoming the first of the six biggest US banks to raise debt this earnings cycle.

The five-part deal’s longest portion, an 11-year fixed-to-floating rate note, yields 0.92 percentage point more than Treasuries, according to a person with knowledge of the matter who asked not to be identified as the details are private. Initial price talk was a spread of about 1.15 percentage points, the person added.