Goldman Sachs launches euro bond sale after $10B raise

Goldman Sachs The Goldman Sachs Group, Inc. ↘ 1.38% moved swiftly to capitalize on investor enthusiasm following a blowout second quarter, raising $10 billion in a U.S. dollar-denominated bond sale on Tuesday before launching a three-part euro bond offering on Wednesday. The back-to-back debt raises underscore broad appetite for Goldman paper at a moment when the Wall Street bank's earnings have vaulted to record levels.

A Blockbuster Quarter Fuels Demand

The bond sale came hours after Goldman reported second-quarter net revenues of $20.34 billion and net earnings of $6.63 billion, delivering diluted earnings per share of $20.98 — a 78% jump in profit year over year. The results were driven by a record equities trading haul of $7.42 billion, up 72% from the prior year, and a surge in investment banking fees that rose 55%. Goldman advised on $1.2 trillion of announced mergers and acquisitions in the first half of 2026, a record pace for any investment bank, according to Reuters.goldmansachs+4

The $10 billion high-grade bond sale attracted roughly $32 billion in orders, according to Bloomberg, reflecting more than three times oversubscription. The deal included tranches spanning multiple maturities, with the longest portion consisting of 31-year notes due July 2057.bloomberg+2

Euro Market Next

On Wednesday, Goldman kicked off a three-part euro bond sale, extending its fundraising into European debt markets a day after pricing the dollar deal, Bloomberg reported. The offering, sometimes called a "reverse Yankee" deal, allows U.S. institutions to tap euro-denominated investors, often at favorable relative spreads. Goldman set a record earlier this year for the largest bank bond in euros with a previous reverse Yankee transaction.globalcapital+1

Capital Position in Focus

The twin offerings add to an already active year of issuance for Goldman. In January, the bank sold $16 billion in bonds — the largest investment-grade offering ever from a Wall Street firm — as part of a broader borrowing surge by major lenders. The latest sales bring Goldman's 2026 bond issuance well above those levels.news.bloomberglaw+1

Goldman's annualized return on equity stood at 23.5% for the second quarter, while assets under supervision reached $4.04 trillion. CEO David Solomon highlighted the results in a post, noting the firm's broad-based strength across its businesses. With investor demand running at multiples of supply, the bank appears well positioned to continue tapping capital markets as needs arise.goldmansachs+2