Bank of America Announces Redemption Of $1.75B 3.093% Fixed/Floating Rate Senior Notes, Due October 2025
Portfolio Pulse from Benzinga Newsdesk
Bank of America is set to redeem $1.75 billion of its 3.093% Fixed/Floating Rate Senior Notes due October 2025 on October 1, 2024. The redemption will be at 100% of the principal amount plus accrued interest.

September 16, 2024 | 8:18 pm
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NEUTRAL IMPACT
Bank of America will redeem $1.75 billion of its senior notes a year early, which may impact its liquidity and interest expenses.
The redemption of senior notes by Bank of America indicates a strategic financial decision to manage its debt. This action will stop interest accrual on these notes, potentially reducing interest expenses. However, it may also impact the company's liquidity position. The market may view this as a neutral event unless further context about the company's financial strategy is provided.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100