Summary
Bank of America Corporation (BAC) filed an 8-K on March 28, 2006, to report on the issuance of new subordinated notes under its existing Euro Medium-Term Note Program. Specifically, BAC announced the sale of €1,750,000,000 (approximately $2.08 billion at the time) of its 4% Fixed/Floating Rate Callable Subordinated Notes due March 2018. This issuance occurred on March 28, 2006. Following this issuance, BAC has approximately $15.6 billion in principal amount of notes outstanding under its $20 billion program, leaving approximately $4.4 billion available for future issuance. These notes are unsecured and issued in international capital markets, not registered under the U.S. Securities Act of 1933, and thus not offered or sold to U.S. persons without registration or an applicable exemption.
Key Highlights
- 1Bank of America issued €1,750,000,000 (approx. $2.08 billion) of 4% Fixed/Floating Rate Callable Subordinated Notes due March 2018.
- 2The issuance took place on March 28, 2006, under the company's existing Euro Medium-Term Note Program.
- 3The total principal amount of notes outstanding under the program is now approximately $15.6 billion.
- 4Approximately $4.4 billion remains available for future issuance under the $20 billion program.
- 5These notes are senior or subordinated debt securities issued in international capital markets.
- 6The notes are not registered under the U.S. Securities Act of 1933 and may not be offered or sold to U.S. persons without registration or an exemption.