Big banks are outdoing each other with record breaking bond sale. One bond after another! Bank of America to Set Record for Largest Bank Bond Sale at $15 Billion!

📟 News 📰

Bank of America to Set Record for Largest Bank Bond Sale at $15 Billion

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.

Read more: Big Banks Pounce on Cheap Rates as They Bust Bond Market Records

https://finance.yahoo.com/news/bank-america-set-record-largest-181313888.html

Why do so many big banks need so much money?