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JPMorgan Chase sees record number of debt issuances in second quarter
By Devika Patel
Knoxville, Tenn., July 14 – JPMorgan Chase & Co. noted record levels of debt sales last quarter, with volumes up by 90% compared to the previous quarter, as companies sought to boost their liquidity levels while market conditions were favorable.
“We saw record levels of debt and equity issuance in the quarter as clients sought to pay down the majority of revolvers drawn in March and continue to shore up liquidity while market conditions were receptive,” chief financial officer Jennifer Piepszak said on the company’s second quarter ended June 30 earnings conference call on Tuesday.
“This surge in investment-grade debt issuance seen in March continued throughout the second quarter and as high-yield markets reopened, U.S. issuance volumes increased by 90% compared to the first quarter,” Piepszak said.
The financial services company is based in New York.
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