Summary
This 8-K filing by Bank of America Corporation (BAC) on October 10, 2001, reports on the approval and execution of a public offering for $1,000,000,000 in aggregate principal amount of its 4 3/4% Senior Notes, due 2006. This action was approved by a Committee of the Board of Directors on October 3, 2001, and an underwriting agreement was subsequently entered into with various underwriters. The offering was made pursuant to a shelf registration statement (Registration No. 333-83503) filed earlier, allowing for the delayed issuance of various debt and equity securities. The filing provides details on the terms of the notes and the underwriting agreement, along with supporting exhibits including the form of the note, legal opinions, and a related news release. This issuance of senior notes indicates Bank of America's strategy to raise capital through debt markets.
Key Highlights
- 1Bank of America is issuing $1 billion in 4 3/4% Senior Notes due 2006.
- 2The offering was approved by a Board Committee on October 3, 2001.
- 3An underwriting agreement for the notes has been executed with various underwriters.
- 4The notes are being issued under a pre-existing shelf registration statement (Form S-3, No. 333-83503).
- 5This action signifies Bank of America's use of debt markets to secure funding.
- 6Supporting documents include the underwriting agreement, form of note, legal opinion, and a news release.