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Bank of America Sells Debt Overcoming ‘Worst-Case Scenario’

Bank of America Corp. sold $1.5 billion of five-year notes as bond investors bet the biggest U.S. lender by assets has overcome the worst of its problems tied to soured mortgages.

The bank issued 3.625 percent notes today that yield 172 basis points more than similar-maturity Treasuries, according to data compiled by Bloomberg. The Charlotte, North Carolina-based lender last sold five-year notes in August at a 230 basis-point spread, according to data compiled by Bloomberg.