Bank of America Prices $10 Billion Debt Offering Across Senior and Subordinated Notes

summarizeSummary

Bank of America announced the pricing of a $10 billion multi-tranche debt offering, including floating rate senior notes and fixed/floating rate senior and subordinated notes with maturities up to April 2037.

check_boxKey Events

• Prices $10 Billion Debt Offering

  Bank of America priced a multi-tranche debt offering totaling $10,000,000,000, consisting of floating rate senior notes and fixed/floating rate senior and subordinated notes.

• Diversified Note Maturities and Rates

  The offering includes $500 million in floating rate senior notes due April 2030, $3.25 billion in 4.477% fixed/floating rate senior notes due April 2030, $3.25 billion in 4.695% fixed/floating rate senior notes due April 2032, and $3 billion in 5.489% fixed/floating rate subordinated notes due April 2037.

• Unsecured Debt Structure

  The senior notes are unsecured and rank equally with other unsecured and unsubordinated obligations, while the subordinated notes are unsecured and junior to senior indebtedness.

auto_awesomeAnalysis

This filing details the final terms and pricing of Bank of America's substantial $10 billion debt offering. The successful pricing at par for all tranches, including both senior and subordinated notes, demonstrates strong market confidence in the company's creditworthiness and ability to access significant capital. This capital raise will support general corporate purposes, enhancing the company's financial flexibility and funding its operations.