Business
JPMorgan sells $16.8b in bonds in largest bank deal ever – Sydney Morning Herald
The US giant takes advantage of some of the cheapest borrowing costs in years to boost its capital after the Federal Reserve let pandemic relief measures lapse.
JPMorgan Chase & Co. sold $US13 billion ($16.8 billion) of bonds on Thursday (US time), the largest deal ever by a bank, taking advantage of some of the cheapest borrowing costs in years to boost its capital after the Federal Reserve let pandemic relief measures lapse.
The deal, which followed the banks best quarter ever, hit the market as corporate borrowers continue to see heavy demand for debt that provides a decent premium over Treasuries. Order books grew to about $US26 billion, allowing JPMorgan…
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