By Andrea Heisinger
New York, June 17 - Bank of America Corp. priced $3 billion of 5.625% 10-year senior notes on Thursday to yield 248 basis points over Treasuries, a source away from the sale said.
The notes (A2/A/A+) priced at 99.642 to yield 5.672%. They are non-callable.
Bank of America Merrill Lynch was the bookrunner.
Senior co-managers were Deutsche Bank Securities Inc., Fifth Third Securities Inc., Lloyds TSB Bank plc and Nomura Securities International Inc.
Cantor Fitzgerald & Co., Loop Capital Markets LLC and Samuel A. Ramirez & Co. Inc. were the junior co-managers.
The financial services company is based in Charlotte, N.C.
| Issuer: | Bank of America Corp.
|
| Issue: | Senior notes
|
| Amount: | $3 billion
|
| Maturity: | July 1, 2020
|
| Bookrunner: | Bank of America Merrill Lynch
|
| Senior co-managers: | Deutsche Bank Securities Inc., Fifth Third Securities Inc., Lloyds TSB Bank plc, Nomura Securities International Inc.
|
| Junior co-managers: | Cantor Fitzgerald & Co., Loop Capital Markets LLC, Samuel A. Ramirez & Co. Inc.
|
| Coupon: | 5.625%
|
| Price: | 99.642
|
| Yield: | 5.672%
|
| Spread: | Treasuries plus 248 bps
|
| Call: | Non-callable
|
| Trade date: | June 17
|
| Settlement date: | June 22
|
| Ratings: | Moody's: A2
|
| Standard & Poor's: A
|
| Fitch: A+
|
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