Goldman Issuing $250 Million Notes At 6.25%, 50 Year Maturity
A token amount for a test of what the US apparently does not have the guts to do: note maturity - November 1, 2060. Price talk on the $250 million issuance at 6.25%. Use of proceeds: General Corporate Purposes, also known as bonuses for the janitors. Oddly enough, the par on the notes is just $25. Is Goldman now trying to appeal to retail direct? Are pension and mutual funds tapped out, courtesy of endless redemptions and lack of cash for ponzi perpetuation purposes? Either way, if this is successful, and it will be in the broader drash for yield, look for most TBTF banks to start issuing 100 year bonds that will never be repaid.