Bank of America starts consent bid to amend eight securities series

By Susanna Moon

Chicago, Nov. 15 - Bank of America Corp. said it is soliciting consents to amend eight series of securities issued by trusts.

The following series are covered by the offer, with the first six securities having liquidation amounts of $1,000 and the last two securities with liquidation amounts of $25:

• BankAmerica Institutional Capital A's $450 million 8.07% capital securities, series A;

• BankAmerica Institutional Capital B's $300 million 7.7% capital securities, series B;

• BankAmerica Capital II's $450 million 8% cumulative semiannual income preferred securities, series 2;

• BankAmerica Capital III's $400 million floating-rate capital securities, series 3;

• MBNA Capital A's $250 million 8.278% capital securities, series A;

• MBNA Capital B's $280 million floating-rate capital securities, series B;

• MBNA Capital D's $300 million 8.125% trust preferred securities, series D; and

• MBNA Capital E's $200 million 8.1% trust originated preferred securities, series E.

Bank of America said it will pay a cash payment of $2.50 for each $1,000 liquidation amount or $0.0625 for each $25 liquidation amount for which consents are delivered by 5 p.m. ET on Nov. 23, the consent expiration date.

The offer requires the consent of holders of at least a majority of the note series. Holders must be of record as of Nov. 14. Payment of the consent fee for each of the securities is not conditioned on receiving the required consent of any other securities, according to a press release by the Charlotte, N.C.-based bank.

D.F. King & Co., Inc. (800 549-6746 or collect 212 269-5550) is the information agent and tabulation agent. Bank of America Merrill Lynch (888 292-0070 or collect 980 388-3646) is the solicitation agent.

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