Bank struggling to refinance long-term debt

Big banks, the likes of Citigroup, Bank of America and JPMorgan Chase, face a wave of maturing long-term bonds at a time when refinancing is proving expensive, the Financial Times reports. The top 10 biggest bank borrowers have bonds worth more than $200 billion maturing between now and the end of the year. December seems to be the peak month, so banks have some refinancing activity ahead of them. That has already started in earnest, but the problem is that refinancing now is not cheap. Banks are being forced to pay high interest rates. This could pressure earnings over the second half of the year, yet another reason to be cautious about the sector. For now, more banks seem to be tapping the central lending facilities from the Fed and the European Central Bank.  

For more:
- here's the FT article