By Aleesia Forni
Virginia Beach, Jan. 16 – Bank of America Corp. priced $2.5 billion of subordinated medium-term notes (Baa3/BBB+/), series L, due 2025 on Friday at Treasuries plus 225 basis points, according to an informed source.
BofA Merrill Lynch is the bookrunner.
Proceeds will be used for general corporate purposes.
Bank of America is a financial services company based in Charlotte, N.C.
| Issuer: | Bank of America Corp.
|
| Amount: | $2.5 billion
|
| Description: | Subordinated medium-term notes, series L
|
| Maturity: | Jan. 22, 2025
|
| Bookrunner: | BofA Merrill Lynch
|
| Coupon: | 4%
|
| Spread: | Treasuries plus 225 bps
|
| Trade date: | Jan. 16
|
| Ratings: | Moody’s: Baa3
|
| Standard & Poor’s: BBB+
|
| Distribution: | SEC registered
|
| Price talk: | 230 bps area
|
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