The personal loan market is getting crowded and with it comes a whole new way to make money.
Here’s what to watch in the coming weeks.
Bank of America Bank of American’s latest offering is the latest installment of a $20 billion buyout.
The bank said the deal is worth more now than when it closed in January 2018.
Bank will get an $8 billion cash infusion, but only if it pays off the $20.7 billion of debt it bought out of the U.S. government.
Bank said it will use the cash to refinance the $25 billion of existing debt.
The refinancing would be in addition to the $4 billion it already had under the terms of the deal.
It is not clear how much more it will be able to borrow from investors.
Wells Fargo Wells Fargo is getting ready to announce a new $10 billion buyback of $50 billion in the U