Bank of America prints debut Covid-19 bond

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By David Rothnie
15 May 2020

Bank of America became the first global commercial bank to print a Covid-19 response bond this week.

Bank of America, rated A2/A-, launched a $1bn four year non-call three senior bond at 130bp over US Treasuries on Thursday.

The SEC registered trade was sold in a fixed to floating rate format, with the back end set to reference the secured overnight financing rate (Sofr).

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