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
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.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Banking & Finance
Seventh money laundering accused to plead guilty on May 23
DBS hires chief of Ping An’s tech group to fix outage issues
Indian banks to step up IT spends as regulatory scrutiny rises
Swedish central bank lowers key rate, sees two more cuts this year
UOB CEO ‘cautiously optimistic’ on 2024; Q1 profit down 1.6% to S$1.49 billion
Australia lending rules make banks go ‘too hard’ on due diligence: Westpac