By Cristal Cody
Tupelo, Miss., June 16 – Bank of America Corp. priced $6 billion of senior notes (A2/A-/A+) in two tranches on Tuesday, according to a market source.
A $3 billion offering of 1.319% six-year notes priced at a spread of Treasuries plus 97 basis points.
Initial price talk was in the Treasuries plus 115 bps area with guidance firmed to the 100 bps area, plus or minus 3 bps.
Bank of America sold $3 billion of 2.676% notes due June 19, 2041 at a spread of 137 bps over Treasuries.
Price guidance was at the 140 bps area, plus or minus 3 bps, tightened from initial talk in the Treasuries plus 155 bps area.
BofA Securities Inc. was the bookrunner.
The financial services company is based in Charlotte, N.C.
| Issuer: | Bank of America Corp.
|
| Amount: | $6 billion
|
| Description: | Notes
|
| Bookrunner: | BofA Securities Inc.
|
| Trade date: | June 16
|
| Ratings: | Moody’s: A2
|
| S&P: A-
|
| Fitch: A+
|
| Distribution: | SEC registered
|
|
|
| Six-year notes
|
| Amount: | $3 billion
|
| Maturity: | June 19, 2026
|
| Coupon: | 1.319%
|
| Spread: | Treasuries plus 97 bps
|
| Call feature: | Callable after five years
|
| Price guidance: | Treasuries plus 100 bps area, plus or minus 3 bps; initial talk at Treasuries plus 115 bps area
|
|
|
| 21-year notes
|
| Amount: | $3 billion
|
| Maturity: | June 19, 2041
|
| Coupon: | 2.676%
|
| Spread: | Treasuries plus 137 bps
|
| Call feature: | Callable after 20 years
|
| Price guidance: | Treasuries plus 140 bps area, plus or minus 3 bps; initial talk at Treasuries plus 155 bps area
|
|
|
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