Bank of America to sell fixed-to-floaters via BofA Merrill Lynch

By Devika Patel

Knoxville, Tenn., Feb. 28 – Bank of America Corp. intends to price an offering of fixed-to-floating rate senior notes, according to a 424B2 filed with the Securities and Exchange Commission.

Interest will accrue at a fixed rate initially and then at a rate based on Libor.

The notes are non-callable for the first six months and then are callable at the greater of a make-whole call and a par call.

BofA Merrill Lynch is the bookrunner.

Proceeds will be used for general corporate purposes, which may include working capital, investments, debt repayments, reductions, redemptions or repurchases or acquisitions.

The financial services company is based in Charlotte, N.C.

© 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.