By Cristal Cody
Tupelo, Miss., June 20 – Bank of America Corp. priced $850 million of medium-term floating-rate senior notes due June 25, 2022 (A3/A-/A) on Wednesday at Libor plus 65 basis points, according to a market source.
Initial price talk on the notes was in the Libor plus 70 bps area.
BofA Merrill Lynch was the bookrunner.
Proceeds will be used for general corporate purposes, including debt repayments, reductions, redemptions or repurchases.
The financial services company is based in Charlotte, N.C.
| Issuer: | Bank of America Corp.
|
| Amount: | $850 million
|
| Maturity: | June 25, 2022
|
| Description: | Series M medium-term floating-rate senior notes
|
| Bookrunner: | BofA Merrill Lynch
|
| Coupon: | Libor plus 65 bps
|
| Trade date: | June 20
|
| Ratings: | Moody’s: A3
|
| S&P: A-
|
| Fitch: A
|
| Distribution: | SEC registered
|
| Price talk: | Libor plus 70 bps area
|
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