By Matt Tracy
(Reuters) – The month is poised to be the busiest January on record for new U.S. corporate bond sales, with two regional banks on Monday adding to what has been a rush of post-earnings debt issuance by banks.
Truist Financial Corp, the financing arm of Truist Bank, on Monday announced a two-part senior unsecured bond offering. The bank is seeking an undisclosed amount of six- and 11-year fixed-to-floating rate notes.
Also on Monday, Fifth Third Bancorp announced that it was seeking eight-year senior unsecured notes, also fixed-to-floating rate and of an as-yet undisclosed amount.
Their announced bond sales carry on this month’s theme of regional and global systematically important banks (GSIBs) seeking debt after their earnings release.
Regional banks PNC, Citizens and U.S. Bancorp sold a combined $7.25 billion in bonds last week, which also saw debt sales from several GSIBs including Bank of America, JPMorgan, Morgan…
