Bank of America (BAC) Could Repay Outstanding Shares Through 5-Year Debt Offering
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Bank of America Corp. (NYSE: BAC) announced on Monday the firm's benchmark-sized debt offering, which will be a five-year self-led issue and is expected to be sold later this year.
The bank said that the proceeds will be used for general corporate purposes and could include the repayment of outstanding debt securities.
Moody's Investors Service rated the BofA offering at A2, while Standard & Poor's has a A rating.
In midday market movement on Monday, shares of Bank of America are down 24 cents to $14.14.
The bank said that the proceeds will be used for general corporate purposes and could include the repayment of outstanding debt securities.
Moody's Investors Service rated the BofA offering at A2, while Standard & Poor's has a A rating.
In midday market movement on Monday, shares of Bank of America are down 24 cents to $14.14.
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