Summary
This 8-K filing from Bank of America Corporation (BAC) on February 19, 2004, reports on the approval and execution of an offering for €1,250,000,000 aggregate principal amount of 4 5/8% Senior Notes due 2014. The action, taken by a committee of the Board of Directors on February 11, 2004, established the terms and conditions for these notes and their sale to various underwriters. This debt issuance indicates Bank of America's strategy to raise capital through senior notes. Investors should note the specific coupon rate of 4.5% and the ten-year maturity for these notes. The filing also confirms the issuance occurred under a previously established shelf registration statement, allowing for a delayed offering of up to $20 billion in various unsecured debt securities, warrants, units, and equity.
Key Highlights
- 1Bank of America Corporation (BAC) announced the approval of a public offering for €1,250,000,000 in Senior Notes.
- 2The Senior Notes have a fixed interest rate of 4 5/8% (4.625%) and mature in 2014.
- 3The offering was approved by a Committee of the Board of Directors on February 11, 2004.
- 4An Underwriting Agreement was executed on February 11, 2004, with various underwriters.
- 5The notes were issued under BAC's existing shelf registration statement (Registration No. 333-97197) for up to $20 billion in unsecured debt and equity securities.
- 6This filing includes exhibits such as the Underwriting Agreement, the form of the Senior Note, and legal opinions related to the issuance.