Content area
Full Text
Headnote
A ground-breaking $5bn-$6bn offering of five year bonds from a trust issuing for more than 20 well known US corporates is being prepared for launch in the next two weeks.
The deal, called Core and led by Bank of America and JP Morgan, is aimed at offering institutional investors the ability to take large chunks of a highly liquid bond issue without taking on concentrated exposure to just one borrower.
"To the extent this structure offers names they could not get any other way and names they are willing to consider, this thing has a shot of succeeding," said one banker.
BofA and JP Morgan would not...