Summary
This 8-K filing from Bank of America Corporation, filed on November 12, 2002, primarily announces the successful completion of a public offering of $500,000,000 in aggregate principal amount of 5 1/8% Senior Notes due 2014. This offering was approved by a Board of Directors' Committee on November 1, 2002, and the terms were established with various underwriters. The issuance of these notes was conducted under the company's existing shelf registration statement (Registration No. 333-97197), indicating ongoing access to capital markets for debt issuance. The filing includes key documentation such as the Underwriting Agreement, the form of the Senior Note, a legal opinion, and resolutions from the board committee. This action demonstrates Bank of America's ability to raise substantial capital through debt markets, likely to support its ongoing operations, strategic initiatives, or to refinance existing debt. Investors should note the specific coupon rate and maturity date of these notes as indicative of the company's cost of debt and its long-term financing structure.
Key Highlights
- 1Bank of America Corporation (BAC) issued $500,000,000 in aggregate principal amount of 5 1/8% Senior Notes due 2014.
- 2The offering was approved by a committee of the Board of Directors on November 1, 2002.
- 3An Underwriting Agreement was executed with various underwriters for the sale of these notes.
- 4The notes were issued under the company's existing shelf registration statement (Registration No. 333-97197), filed on Form S-3.
- 5This filing indicates proactive capital management and access to public debt markets by Bank of America.
- 6Key exhibits include the Underwriting Agreement, the form of the note, and a legal opinion on the notes.