By Aleesia Forni
Virginia Beach, Feb. 11 - Bank of America Corp. priced a $1.75 billion issue of senior notes (Baa2/A-/A) in two tranches due 2017, according to a market source.
A $500 million tranche of three-year floaters was priced at par to yield Libor plus 47 basis points.
There was a $1.25 billion tranche of 1.25% notes due 2017 priced with a spread of Treasuries plus 60 basis points, or 99.912 to yield 1.28%.
Both tranches priced on top of guidance.
Bank of America is a financial services company based in Charlotte, N.C.
| Issuer: | Bank of America Corp.
|
| Issue: | Senior notes
|
| Amount: | $1.75 billion
|
| Bookrunner: | BofA Merrill Lynch
|
| Trade date: | Feb. 11
|
| Settlement date: | Feb. 14
|
| Ratings: | Moody's: A2
|
| Standard & Poor's: A
|
| Fitch: A
|
|
|
| Floaters due 2017
|
| Amount: | $500 million
|
| Maturity: | Feb. 14, 2017
|
| Coupon: | Libor plus 47 bps
|
| Price: | Par
|
| Yield: | Libor plus 47 bps
|
| Price talk: | Libor plus 47 bps
|
|
|
| Notes due 2017
|
| Amount: | $1.25 billion
|
| Maturity: | Feb. 14, 2017
|
| Coupon: | 1.25%
|
| Price: | 99.912
|
| Yield: | 1.28%
|
| Spread: | Treasuries plus 60 bps
|
| Price talk: | Treasuries plus 60 bps
|
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