By Andrea Heisinger
New York, Feb. 3 - Bank of America Corp. gave terms of its $2.25 billion of senior notes (Baa1/A-/A) sold in two parts on Thursday, in filings with the Securities and Exchange Commission.
The bank reopened its issue of 5.7% notes due 2022 to add $750 million. Those notes priced at 104.831 to yield 5.076% with 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 98.929 to yield 5.952% with a spread of Treasuries plus 297 bps.
Bank of America Merrill Lynch was the bookrunner.
ANZ Securities, Inc., Banca IMI SpA, Goldman Sachs & Co., Lloyds Securities Inc., Mitsubishi UFJ Securities (USA), Inc., RBS Securities Inc., Santander Investment Securities Inc., Scotia Capital (USA) Inc. and SG Americas Securities, LLC were the senior co-managers.
Junior co-managers were CastleOak Securities LP and Williams Capital Group LP.
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
|
| Senior co-managers: | ANZ Securities, Inc., Banca IMI SpA, Goldman Sachs & Co., Lloyds Securities Inc., Mitsubishi UFJ Securities (USA), Inc., RBS Securities Inc., Santander Investment Securities Inc., Scotia Capital (USA) Inc., SG Americas Securities, LLC
|
| Junior co-managers: | CastleOak Securities LP, Williams Capital Group LP
|
| Trade date: | Feb. 2
|
| Settlement date: | Feb. 7
|
| Ratings: | Moody's: Baa1
|
| Standard & Poor's: A-
|
| Fitch: A
|
|
|
| 10-year notes
|
| Amount: | $750 million, reopened
|
| Maturity: | Jan. 24, 2022
|
| Coupon: | 5.7%
|
| Price: | 104.831
|
| Yield: | 5.076%
|
| 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: | Feb. 7, 2042
|
| Coupon: | 5.875%
|
| Price: | 98.929
|
| Yield: | 5.952%
|
| Spread: | Treasuries plus 297 bps
|
| Call: | Non-callable
|
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