Americas

Markets - Fixed Income - Americas

JP Morgan announces new 10-year bond, Rabo brings sub NEW YORK: JP Morgan on Thursday announced a new 10-year benchmark US dollar bond, shortly after releasing strong second-quarter earnings that boosted US equity indexes. Sources told IFR that initial price thoughts on the self-led deal were heard in the range of US Treasuries plus 145bp-150bp, with proceeds to be used for general corporate purposes.The senior unsecured notes will be issued at the holding company level of JP Morgan (A3/A-), the largest US bank by assets.At IPTs, the deal offered a premium of around 10bp-15bp over JPM's 3.3% April 2026s, which were trading in the low 130bp area before the deal was announced.An investor following the deal said while that was not a particularly generous premium, the strength of demand for US credit and the strength of JPM's results should ensure success."They're the first bank to issue for a while and they had a solid quarter - it should do ...
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