Bank capital raising in the U.S. is down 35.7% YOY!
U.S. bank capital offerings were down 35.7% from the same period one year ago but increased 125.7% compared to the previous quarter. On the equity side, there was a surge in preferred equity offerings, but this was mainly attributed to a large offering from Wells Fargo. Common equity offerings continued to be subdued. On the debt side, senior debt issuance was the largest component at $23.88B. However, this was the lowest issuance for senior debt in three years. Senior debt issuance increased 147% quarter over quarter but was down 38% year over year. Subordinated debt issuance declined 26%…
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