Bank of America markets rare Friday bond sale
Bank of America is raising at least $6 billion through investment-grade bonds in up to four tranches, with maturities from three to 11 years. The unusual Friday timing follows a volatile week for credit markets.
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What happened
Bank of America has launched a sale of investment-grade bonds, according to Bloomberg. The lender is seeking at least $6 billion and is offering debt in as many as four parts. The bonds carry maturities of three to 11 years, and the sale comes after a week of swings in credit markets.
Why it matters
The offering is unusual because it is being held on a Friday. It follows a volatile week for credit markets.
Coverage
- Bank of America is seeking at least $6 billion in a rare Friday bond sale (qz.com)
- Market Chatter: Bank of America Launches Investment-Grade Bond Sale (Yahoo News)
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