J.P. Morgan (JPM)

JPMorgan Chase & Co sold $4 billion (Dh14.69 billion) of notes in the only US corporate bond offering last week.
Sales compare with $17.5 billion the previous week and bring total monthly issuance to $56.6 billion, in line with the $55 billion average since 2000, according to data compiled by Bloomberg. New York-based JPMorgan's 13-month extendible notes, which have a final maturity of five years, marked the second time the bank sold dollar-denominated debt this month. The issue from JPMorgan, the second-largest US bank, brought 2009's total volume to a record $1.24 trillion as borrowers took advantage of low interest rates to refinance debt after being locked out of the bond market during last year's financial crisis. The previous record was $1.17 trillion in 2007.

Dec 29 · 2:22:00 PM · Source: Gulf News
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by Michael Oliveto