JPM, Fifth Third lock in gains amid ‘perfect’ conditions

By Graham Bippart
05 Jun 2014

JP Morgan and Fifth Third Bancorp exploited soaring demand for high-grade paper in the US this week as they printed preferred share deals at low coupons.

The banks followed in the footsteps of Goldman Sachs, which broke the mould in April by offering non-call five-year tier one securities to institutional investors. Prior to the Goldman trade, tier one non-call fives were only offered to the retail market, with institutions ...

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