large scale image
LCP Image

Back to TSCFM News

Goldman Sachs joins a growing list of US banks

April 22, 2022

Goldman Sachs joins a growing list of US banks
U.S. banking giant Goldman Sachs Group Inc. followed Bank of America Corp. also, Wells Fargo, and Co. in raising sterling debt only days after reporting earnings.

The New York-based bank sold 750 million pounds ($980 million) of notes due in 7.5 years, as per an individual familiar with the matter, who isn’t authorized to talk and asked not to be identified. It was the lender’s first sale in the currency since June, when it raised 900 million pounds, as per the data compiled by Bloomberg.
 
Lenders across the Atlantic are taking advantage of the post-earnings issuance window to seize on great funding conditions. U.S. guarantors raising sterling debt stand to make the greatest savings since 2008 as the cost of exchanging pound bonds into dollars falls below what it would cost to issue in their own currency, data compiled by Bloomberg show.
 
Investors are lapping up the sales. Goldman got around 1.5 billion pounds of offers for its today notes, beating the 1 billion pounds of interest for Bank of America’s 600-million-pound bond deal on Wednesday. Wells Fargo’s 500 million-pound six-year notes on Tuesday pulled in more than 775 million pounds of investor orders, as per others with knowledge of the sales.
 
Two euro notes offered by Bank of America simultaneously as its sterling bond were on average more than 1.7 times covered.
Important Links:

Recommended for you ...

Modi, Mauritius, and Sri Lanka Leaders Unveil Digital Payment Services
Modi, Mauritius, and Sri Lanka Leaders Unveil Digital Payment Services

February 12, 2024

Public Sector Banks Surpassing Private Peers, Investors Reconsidering Choices
Public Sector Banks Surpassing Private Peers, Investors Reconsidering Choices

February 12, 2024

Indian Banks Seek RBI Permission for Global Bond Trading Ahead of Inclusion in Indices
Indian Banks Seek RBI Permission for Global Bond Trading Ahead of Inclusion in Indices

February 12, 2024

Enquire Now
REQUEST A CALLBACK
Chat on WhatsApp