Goldman Sachs to raise $10 billion in high-rated bond issuance
After reporting record stock trading revenue, it is set to raise $10 billion through the issuance of high-rated bonds, with investor subscription demand about three times the size of the issue. According to people familiar with the matter, the bond issuance launched on Tuesday received approximately US$32 billion in orders at the peak of subscriptions. Goldman Sachs reported results on Tuesday that far beat market expectations, with its equities business hitting a record high for the third straight quarter. The revenue in the past three months alone exceeds the business's four quarters in 2019 combined. Goldman Sachs issued three parts of U.S. dollar bonds with maturities ranging from 6 to 31 years. One of the people said the longest-maturity bond yield would be 113 basis points higher than U.S. Treasury yields, about 22 basis points narrower than initial price guidance.