JPMorgan sells $7.75 bln in FDIC-backed debt
NEW YORK, Dec 18 (Reuters) - JPMorgan Chase & Co (JPM.N: Quote, Profile, Research) on Thursday sold $7.75 billion in notes in a three-part deal, backed by the Federal Deposit Insurance Corp, IFR reported.
The bank sold $1.75 billion of 2-year fixed-rate notes at midswaps plus 18 basis points, said IFR, a Thomson Reuters service.
It sold a second tranche of $3 billion of 3.5-year fixed-rate notes at midswaps plus 38 basis points and a third tranche of $3 billion of 3.5-year floating-rate notes at 3-month London interbank offered rate plus 38 basis points.
JPMorgan acted as sole lead manager on its own deal, which was made under the government's Temporary Liquidity Guarantee Program, which offers full FDIC backing for debt sales of no longer than 3 years by financial institutions. (Reporting by Ciara Linnane; Editing by Theodore d'Afflisio)
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