Summary
This 8-K filing by Bank of America Corporation (BAC) on February 3, 2009, details significant debt issuance activity under its Medium-Term Note Program, Series L. The company announced an increase in the authorized securities under this program by an additional $25 billion. This move was accompanied by the sale of $8.35 billion in senior notes: $6 billion in 2.10% Fixed Rate Notes due April 2012 and $2.35 billion in Senior Three-Month LIBOR Floating Rate Notes due April 2012.
Key Highlights
- 1Bank of America expanded its Medium-Term Note Program, Series L, by an additional $25,000,000,000 in authorized securities.
- 2The company issued $6,000,000,000 in 2.10% Senior Notes due April 2012.
- 3An additional $2,000,000,000 in Senior Three-Month LIBOR Notes due April 2012 were issued.
- 4A further $350,000,000 in Senior Three-Month LIBOR Notes due April 2012 were issued on January 28, 2009.
- 5All issued notes are guaranteed by the FDIC under the Temporary Liquidity Guarantee Program.
- 6This filing confirms the terms of the debt issuance through a Written Terms Agreement and related exhibits.