By Aleesia Forni
Virginia Beach, Oct. 17 - Bank of America Corp. priced $3 billion of senior notes (Baa2/A-/A) on Thursday due 2019 in fixed- and floating-rate tranches, according to an informed source.
The sale included $500 million of five-year floating-rate notes sold at par to yield Libor plus 104 basis points.
There was also $2.5 billion of 2.6% notes due 2019 priced at Treasuries plus 128 bps, or 98.983 to yield 2.604%.
Proceeds will be used for general corporate purposes.
The financial services company is based in Charlotte, N.C.
| Issuer: | Bank of America
|
| Issue: | Senior notes
|
| Amount: | $3 billion
|
| Joint bookrunners: | BofA Merrill Lynch
|
| Trade date: | Oct. 17
|
| Ratings: | Moody's: Baa2
|
| Standard & Poor's: A-
|
| Fitch: A
|
|
|
| Floaters due 2019
|
| Amount: | $500 million
|
| Maturity: | 2019
|
| Coupon: | Libor plus 104 bps
|
| Price: | Par
|
| Yield: | Libor plus 104 bps
|
|
|
| Fixed-rate notes due 2019
|
| Amount: | $2.5 billion
|
| Maturity: | 2019
|
| Coupon: | 2.6%
|
| Price: | 99.983
|
| Yield: | 2.604%
|
| Spread: | Treasuries plus 128 bps
|
© 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.
