US banking major Bank of America (BofA) raised $5.5bn via a three part debt offering. It raised:
- $2.5bn via 6Y non-call 5Y (6NC5) bonds at a yield of 1.658%, or T+80bp, 20bp inside initial guidance of T+100bp area
- $2bn via 11Y non-call 10Y (11NC10) bonds at a yield of 2.651%, or T+105bp, 20bp inside initial guidance of T+125bp area
- $1bn via 31Y non-call 30Y (31NC30) bonds at a yield of 3.483%, or T+115bp, 20bp inside initial guidance of T+135bp area
The SEC-registered bonds have expected ratings of A2/A-/A+ and proceeds from the offering will be used for general corporate purposes
