By Andrea Heisinger
New York, July 18 - Bank of America Corp. sold $2 billion of 4.1% 10-year notes (Baa2/A-/A) on Thursday at a spread of Treasuries plus 157 basis points, a source away from the trade said.
The sale was done tight to talk in the 160 bps area.
Full terms were not available at press time.
BofA Merrill Lynch was the bookrunner.
Bank of America, a financial services company based in Charlotte, N.C., last tapped the U.S. bond market in a $4 billion offering in four tranches on March 19. That sale included a reopening of 3.3% notes due 2023 priced at 147 bps over Treasuries.
Issuer: | Bank of America Corp.
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Issue: | Notes
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Amount: | $2 billion
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Maturity: | 2023
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Bookrunner: | BofA Merrill Lynch
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Coupon: | 4.1%
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Spread: | Treasuries plus 157 bps
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Call: | Non-callable
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Trade date: | July 18
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Ratings: | Moody's: Baa2
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| Standard & Poor's: A-
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| Fitch: A
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Price talk: | 160 bps area
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