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
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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.
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