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

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 US$2 billion of perpetual preferred securities that can be called after five years with a coupon of 5.375 per cent, according to data compiled by Bloomberg.