US banks swing by euros in global funding wave

By Tyler Davies
29 Apr 2021

Morgan Stanley and Goldman Sachs received a warm welcome in the euro market this week, as they turned to the currency amid what one banker described as a “US bank supply wave”.

Goldman Sachs tapped into pent-up demand for short-dated paper on Monday, when it raised €3.5bn of senior debt over two tranches of three year non-call twos.

The US firm sold a €2bn fixed rate bond at 50bp over mid-swaps and a €1.5bn floating rate note at 55bp over ...

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