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U.S. Bancorp Sells $2.75 Billion of Bonds; Credit Swaps Hold  

January 29, 2014
Jessica Summers, Bloomberg

U.S. Bancorp (USB) sold $2.75 billion of bonds after the nation’s largest regional lender reported quarterly profit that beat analysts’ expectations. A measure of corporate credit risk held at about a two-month high.

The bank sold the debt in three parts, including $1.3 billion of 1.1 percent, three-year notes to yield 35 basis points more than similar-maturity Treasuries issued through its U.S. Bank National unit, according to data compiled by Bloomberg.

The Minneapolis-based lender reported fourth-quarter profit rose 2.5 percent to $1.46 billion, or 76 cents a share, from $1.42 billion, or 72 cents a share, last week. The average estimate of 31 analysts surveyed by Bloomberg was 75 cents a share.

Read more: Bloomberg

 

 
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