Bank of America (BofA) has raised $1.5 billion through a debt issue, The Wall Street Journal reports. Bank of America Merrill Lynch was the sole bookrunning manager for the transaction.
The notes, which carry a coupon rate of 3.625%, are due to mature on March 17, 2016, adds Reuters. The lender may use the net proceeds for general corporate purposes, which could include the repayment of remaining debt securities.
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