Morgan Stanley Sells Bonds Worth $7.5bn
Morgan Stanley raised $7.5bn via a three-part offering, joining jumbo bond issuances from peers JP Morgan and Bank of America. It raised: $2bn via a 3Y non-call 2Y (3NC2) fixed-to-floating bond at a yield 0.731%, or T+57bp, 13bp inside initial guidance of T+70bp area...
BofA Smashes Bank Issuance Record Raising $15 Billion via Six-Trancher
Bank of America raised $15bn via a six-part offering, overtaking JPMorgan’s $13bn issuance just a day prior to set the record for the largest bank bond issuance ever. Two of the six tranches, the 0.976% 2025s and 0.98% 2027s are floaters linked to the SOFR. The SEC...
JP Morgan Sells $13bn of Bonds; Largest Issuance by a Bank Ever
JPMorgan Chase & Co. (JPM) sold $13bn worth of bonds on Thursday, the largest ever bond issuance by a bank. JPM capitalized on its best ever quarter with strong Q1 earnings released a day prior and the current low interest rate environment to beef up its balance...
Goldman, JPM and Wells Smash Estimates With Solid Q1
JPMorgan kicked-off the US financials Q1 earnings season reporting revenues of $32.3bn, up 14% vs. the same period last year. Net income came in at $14.3bn, up 5x YoY predominantly driven by credit reserve releases of $5.2bn compared to credit reserve builds of $6.8bn...
