Summary
Bank of America Corporation (BAC) filed an 8-K report on November 20, 2002, detailing the public offering of $145 million in 3.761% Senior Notes due in 2007. This offering was approved by a committee of the Board of Directors on November 15, 2002, and involved various placement agents. The notes were issued under a pre-existing shelf registration statement filed on Form S-3, allowing for delayed offerings of debt securities. This action indicates that Bank of America was actively managing its capital structure and debt obligations in late 2002. The specific terms of the notes, including the interest rate and maturity date, are clearly defined. Investors should note that this filing focuses solely on the debt issuance and does not include any new financial performance results or operational updates. The issuance of senior notes is a standard practice for large financial institutions to manage liquidity and fund operations.
Key Highlights
- 1Bank of America Corporation issued $145 million in 3.761% Senior Notes due 2007.
- 2The offering was approved by a Board of Directors Committee on November 15, 2002.
- 3The notes were offered publicly through placement agents.
- 4This issuance was conducted under a previously filed shelf registration statement (Form S-3, Registration No. 333-97197).
- 5The filing includes the Placement Agency Agreement as an exhibit.
- 6The report focuses on a specific debt issuance event, not broader financial performance.