U.S. Bancorp will sell senior unsecured bonds worth $1 billion, Reuters reports. The notes, carrying a coupon rate of 4.125%, are due to mature on May 24, 2021.
The bank intends to use the proceeds to repay outstanding debt securities apart from general corporate purposes, adds The Wall Street Journal. Morgan Stanley, Deutsche Bank and U.S. Bancorp were the joint book-runners for the transaction.
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