© Reuters. FILE PHOTO: The logo of PNC Bank, a subsidiary of PNC Financial Services Group, is seen on the window of a branch in Washington, U.S. April 30, 2023. REUTERS/Ashraf Fahim/File Photo
By Matt Tracy
(Reuters) – Two major U.S. regional banks raised a total $4.75 billion selling bonds on Thursday, on the back of strong demand in a sign that fixed income investors are no longer jittery about regional banks after the March banking crisis.
Citizens Bank on Thursday sold $1.25 billion in six-year senior unsecured callable fixed-to-floating rate notes. U.S. Bancorp, meanwhile, sold $3.5 billion in six-year and 11-year callable senior unsecured fixed-to-floating rate notes.
The banks’ deals follow Wednesday’s $2.5 billion bond sale by peer PNC Bank. The sale was met with strong investor demand and its book received over six times that amount in orders.
Market participants expect similarly strong demand for today’s bank deals,…
