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Goldman Sachs Sells 50-Year Bonds

$500 mln issue was aimed at individuals, sold in $25 increments.

By Tim Catts, Bloomberg | Updated on October 20, 2011

Goldman Sachs Group Inc., which yesterday reported its second quarterly loss in 12 years, sold $500 million of 50-year unsecured bonds in a transaction aimed at individual investors.

Goldman Sachs sold the debt in increments of $25 at a yield of 6.5 percent after doubling the size of the offering, according to data compiled by Bloomberg. The New York-based firm has the option to redeem the bonds at par after five years, according to a filing with the Securities and Exchange Commission.

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