JPM tenders for $11bn of bonds as primary market slows
JP Morgan announced the terms of a massive tender offer this week, as supply slowed to a trickle in the US dollar market.
JP Morgan said on Wednesday that it was tendering for up to $11.2bn of debt maturing over the next 12 months, in the first sign of how banks might deal with paper that falls outside total loss absorbing capacity (TLAC) requirements.“The targeted bonds mature over the next ...
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