By Andrea Heisinger
New York, Feb. 2 - Bank of America Corp. sold $2.25 billion of senior notes (Baa1/A-/A) in two parts on Thursday, a market source said.
The bank reopened its issue of 5.7% notes due 2022 to add $750 million. Those notes priced at a spread of Treasuries plus 325 basis points.
Total issuance is $2.25 billion, including $1.5 billion priced on Jan. 19 at 378 bps over Treasuries.
There was also a $1.5 billion tranche of new 5.875% 30-year bonds sold at Treasuries plus 297 bps.
Full terms were not available at press time.
Bank of America Merrill Lynch was the bookrunner.
Proceeds will be used for general corporate purposes.
The financial services company is based in Charlotte, N.C.
| Issuer: | Bank of America Corp.
|
| Issue: | Senior notes
|
| Amount: | $2.25 billion
|
| Bookrunner: | Bank of America Merrill Lynch
|
| Trade date: | Feb. 2
|
| Ratings: | Moody's: Baa1
|
| Standard & Poor's: A-
|
| Fitch: A
|
|
|
| 10-year notes
|
| Amount: | $750 million, reopened
|
| Maturity: | Jan. 24, 2022
|
| Coupon: | 5.7%
|
| Spread: | Treasuries plus 325 bps
|
| Call: | Non-callable
|
| Total issuance: | $2.25 billion, including $1.5 billion sold on Jan. 19 at 378 bps
|
|
|
| 30-year bonds
|
| Amount: | $1.5 billion
|
| Maturity: | 2042
|
| Coupon: | 5.875%
|
| Spread: | Treasuries plus 297 bps
|
| Call: | Non-callable
|
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