Bank of America launches $1.6 billion offering of three-year fixed-, floating-rate bank notes

By Aleesia Forni

New York, Dec. 3 – Bank of America NA launched a $1.6 billion offering of three-year fixed- and floating-rate senior bank notes (A1/A/A+) on Thursday following the deal’s delay on Wednesday, an informed source said.

Originally slated for Wednesday pricing, the company launched the $1.25 billion fixed-rate tranche at Treasuries plus 80 basis points.

The tranche was previously talked in the 85 bps area over Treasuries.

A $350 million tranche of floating-rate notes launched at 76 bps over Libor following talk at the Libor equivalent to the fixed-rate tranche.

BofA Merrill Lynch is the bookrunner.

Proceeds will be used for general corporate purposes.

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

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