FDIC backing has allowed financials to raise billions in the last couple months, but here’s something big. Goldman (GS) is raising $1 billion on its own. No FDIC backing. No training wheels.
WSJ: Goldman Sachs Group Inc. is offering a 10-year note without a guarantee from the U.S. government, a bond investor said.
The deal, which is expected to be at least $1 billion, is seen pricing later Thursday.
It’s just $1 billion, but it’s a start. It means at least someone believes Goldman will be around in 10 years.