Charles Schwab Corp. SCHW on Thursday disclosed plans for a $2.5 billion bond offering with bookrunners Bank of America Corp.’s BofA unit, Citi, Credit Suisse, Goldman Sachs, JPMorgan Chase and Wells Fargo as joint bookrunning managers. The brokerage firm is offering $1.2 billion of 5.643% fixed-to-floating rate senior notes due 2029, as well as $1.3 billion of 5.853% fixed-to-floating rate senior notes due 2034. A person familiar with the bond market told MarketWatch the offering appears to be in good shape for a debut. Schwab plans to use the proceeds for general corporate purposes, including investments in subsidiaries and supporting business growth. Chares Schwab stock is down 1% in premarket trades.
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