02:27 PM EDT, 10/22/2024 (MT Newswires) -- Bank of America ( BAC ) is looking to raise $3.5 billion via debt offering, joining other Wall Street banks that have been tapping into the US bond market, Bloomberg reported Tuesday.

The firm is looking to sell subordinated notes that mature in 11 years and would yield around 1.32 percentage points above Treasuries, the report said, citing a personal with knowledge of the matter.

The offering comes after Bank of America's ( BAC ) Q3 earnings beat estimates, and follow offerings from JPMorgan Chase (JPM), Goldman Sachs (GS), and Morgan Stanley (MS), who have collectively sold about about $19.3 billion of high-grade bonds after reporting their earnings, the report said.

Bank of America ( BAC ) declined comment to MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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