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8/20/2019, 4:45 PM (Source: TeleTrader)
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JPMorgan raising $11.5B with short-term notes

JPMorgan Chase and Co. said on Tuesday that it launched a cash tender offer for five series of senior notes worth $11.5 billion in total. It is expiring at 5:00 pm ET on August 26 with settlement set for the next day. The maturity is five to eleven months.

The bank said it is selling 2.25% notes due in January in a $3.75 billion package. A floating rate for debt with the same maturity of $1.15 billion was determined as three-month LIBOR plus 0.955%. Next up for payment will be the eight-month 4.95% securities worth $1.5 billion. The June 2.75% notes are aimed at raising $2.25 billion, followed by $2.5 billion expiring one month after that, on July 22, with a 4.4% rate.

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