Bank of America proved on Thursday that there is still plenty of room for euro issuance, even as the market scrambled to work out the impact of the US Federal Reserve's first rate cut in a decade. The US issuer sold a €1bn senior unsecured bond after attracting orders two and half times that size.
The bank ran the sale of the 10 year non-call nine note on its own, starting with price thoughts in the 85bp area over mid-swaps.
The bond drew demand of €2bn during the first two hours of bookbuilding.
A FIG syndicate manager away from the deal said: “I reckon Bank