By Andrea Heisinger
New York, May 10 -Bank of America Corp. sold $2.3 billion notes (A2/A/A+) in two parts on Tuesday after a reopening of floating-rate notes was added, a market source said.
Those floaters due Jan. 30, 2014 were originally sold at a coupon of three-month Libor plus 142 basis points and reopened to add $300 million. The add-on priced at 101.356 to yield three-month Libor plus 92 bps.
Total issuance for the notes is $1.8 billion, including $1.5 billion sold on Jan. 26 at par.
There was also a $2 billion tranche of new 5% 10-year notes priced at 99.565 to yield 5.056% with a spread of 185 bps over Treasuries.
Both notes are non-callable.
Bank of America Merrill Lynch was the bookrunner.
The financial services company is based in Charlotte, N.C.
| Issuer: | Bank of America Corp.
|
| Issue: | Notes
|
| Amount: | $2.3 billion
|
| Bookrunner: | Bank of America Merrill Lynch
|
| Trade date: | May 10
|
| Settlement date: | May 13
|
| Ratings: | Moody's: A2
|
| Standard & Poor's: A
|
| Fitch: A+
|
|
|
| Floaters due 2014
|
| Amount: | $300 million
|
| Maturity: | Jan. 30, 2014
|
| Coupon: | Three-month Libor plus 142 bps
|
| Price: | 101.356
|
| Yield: | Three-month Libor plus 92 bps
|
| Call: | Non-callable
|
| Total issuance: | $1.8 billion, including $1.5 billion sold Jan. 26 at par
|
|
|
| 10-year notes
|
| Amount: | $2 billion
|
| Maturity: | May 13, 2021
|
| Coupon: | 5%
|
| Price: | 99.565
|
| Yield: | 5.065%
|
| Spread: | Treasuries plus 185 bps
|
| Call: | Non-callable
|
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