Bank of America to Set Record for Largest Bank Bond Sale at $15 Billion
(Bloomberg) -- 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
©2021 Bloomberg L.P.