By Andrea Heisinger
New York, March 14 - Bank of America Corp. priced $1.5 billion 3.625% five-year notes on Monday at a spread of Treasuries plus 172 basis points, said a market source away from the sale.
The notes priced at the tight end of price talk, which was in the 175 bps area.
The notes (A2/A/A+) were sold at 99.674 to yield 3.697%.
Bank of America Merrill Lynch was the bookrunner.
Senior co-managers were Commerz Markets LLC, Deutsche Bank Securities Inc., Lloyds TSB Bank plc, Cooperatieve Centrale Raiffeisen-Boerenleenbank BA (Rabobank International), RBS Securities Inc. and Scotia Capital (USA) Inc.
Loop Capital Markets LLC and Samuel A. Ramirez & Co. Inc. were the co-managers.
Proceeds are being used for general corporate purposes.
The bank and financial services company is based in Charlotte, N.C.
| Issuer: | Bank of America Corp.
|
| Issue: | Notes
|
| Amount: | $1.5 billion
|
| Maturity: | March 17, 2016
|
| Bookrunner: | Bank of America Merrill Lynch
|
| Senior co-managers: | Commerz Markets LLC, Deutsche Bank Securities Inc., Lloyds TSB Bank plc, Cooperatieve Centrale Raiffeisen-Boerenleenbank BA (Rabobank International), RBS Securities Inc., Scotia Capital (USA) Inc.
|
| Co-managers: | Loop Capital Markets LLC, Samuel A. Ramirez & Co. Inc.
|
| Coupon: | 3.625%
|
| Price: | 99.674
|
| Yield: | 3.697%
|
| Spread: | Treasuries plus 172 bps
|
| Trade date: | March 14
|
| Settlement date: | March 17
|
| Ratings: | Moody's: A2
|
| Standard & Poor's: A
|
| Fitch: A+
|
| Price talk: | 175 bps area
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
