You are here

Goldman, BOA sell US$7b of debt after posting profits

The sales are part of efforts to meet new capital rules following the financial crisis

TELLING MOVE: Bank of America sold US$5 billion in debt after expanding its offering to three parts from two, including US$2.5 billion of 10-year subordinated notes.

New York

GOLDMAN Sachs Group Inc and Bank of America Corp tapped capital markets Thursday after posting above-forecast profits as banks look to boost reserves to meet regulatory requirements.

Goldman Sachs, which posted its highest earnings per share in more than five years, sold