US Regional Banks Race to High-Grade Debt Market for Funding
A Truist Bank branch in Dallas.
Photographer: Shelby Tauber/BloombergUS regional banks are racing to the investment-grade debt market for funding, seizing on calmer waters after tensions over President Donald Trump’s dispute over Greenland and a selloff in Japanese bonds unsettled investors earlier this week.
Units of North Carolina-based Truist Financial Corp. and Rhode Island’s Citizens Financial Group Inc. are selling a combined $4 billion in bonds Thursday, according to people with direct knowledge of the matter. Three other financial institutions, including PNC Financial Services Group Inc., raised a combined $6 billion of high-grade debt on Wednesday.