8-KOther EventsExhibits & Filings

BANK OF AMERICA CORP /DE/ 8-K Report, Corporate Update (Mar 27, 2006)

Filed March 27, 2006For Securities:BACBAC-PBBAC-PKBAC-PLBAC-PMBAC-PNBAC-PSBML-PJBAC-PEBAC-PPBAC-PQBACRPBML-PGBML-PHBML-PLBAC-POMER-PK

Summary

This 8-K filing from Bank of America Corporation (BAC), dated March 27, 2006, primarily announces the approval and terms for a public offering of $1.5 billion in Floating Rate Callable Senior Notes due March 2009. This offering was established by a committee appointed by the Board of Directors and formalized through an underwriting agreement with various underwriters. The issuance of these notes is part of a broader, previously established shelf registration statement on Form S-3, which allows for the continuous offering of various debt and equity securities. This filing signifies a routine capital-raising activity for the company, aimed at bolstering its financial resources or funding ongoing operations and strategic initiatives.

Key Highlights

  • 1Bank of America announced a public offering of $1.5 billion in Floating Rate Callable Senior Notes.
  • 2The notes are due in March 2009.
  • 3The offering was approved by a committee of the Board of Directors on March 21, 2006.
  • 4An underwriting agreement was entered into on March 21, 2006, with various underwriters.
  • 5The issuance falls under a pre-existing shelf registration statement (Registration No. 333-112708) filed on Form S-3.
  • 6This registration statement covers a broad range of debt and equity securities up to an aggregate initial offering price of $30 billion.

Frequently Asked Questions

This 8-K filing serves to inform investors and the public about a material event, specifically the approval and terms of a $1.5 billion public offering of senior notes by Bank of America Corporation.

The notes are Floating Rate Callable Senior Notes with a principal amount of $1.5 billion and a maturity date in March 2009. Further details on the specific interest rate mechanism and call provisions would be found in the prospectus supplement.

This filing represents a standard capital markets activity. The notes are issued under a shelf registration, suggesting it's part of an ongoing program to manage the company's debt structure and funding needs rather than a response to an immediate, significant strategic shift.

Investors can find more detailed information in the Prospectus Supplement dated March 21, 2006, and the underlying Prospectus dated April 14, 2004, which are part of Registration Statement No. 333-112708 filed with the SEC.