BofA Sells $2.5 Billion of Bonds Amid Foreclosure Deal Talks
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Bank of America Corp. sold $2.5 billion of bonds as it nears a settlement on state and federal claims over faulty foreclosures that’s increasing investor confidence in credit of the biggest U.S. bank.
The transaction included $2 billion of 3.75 percent, five-year notes that yield 205 basis points more than similar-maturity Treasuries and $500 million of three-year, floating-rate securities that pay 155 basis points more than the three-month London interbank offered rate, according to data compiled by Bloomberg.