(Bloomberg) — Bank of America Corp. has kicked off its second <a href="https://bitcomme.com/how-earnings-beat-at-ebay-ebay-has-changed-its-investment-story/” title=”How Earnings Beat At eBay (EBAY) Has Changed Its Investment Story”>investment-grade bond sale in days, offering perpetual notes following last week’s $8 billion capital raising.
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The bonds would be first callable in five years, and initial price discussions involve a yield of 7.5% to 7.625%, according to a person familiar with the matter who asked not to be identified because they’re not authorized to speak publicly. The company sold $2.5 billion of such notes in July 2025 at a 6.25% yield.
Bank of America brought an unusual Friday high-grade bond offering on Oct. 16, braving the market after a turbulent week in credit markets disrupted fundraising plans for numerous borrowers.
Markets are uncertain Tuesday, with a fresh round of AI-fueled worries sending stocks lower and Treasuries higher. A measure of credit risk for US investment-grade bonds rose after logging its highest close since March 31 on Monday.
The firm’s shares finished yesterday at their lowest since May 15, extending a post-earnings decline as Bank of America reported that both its stock and fixed-income traders’ results fell short of estimates. It also disclosed a $1.2 billion charge for fines for money laundering and sanctions violations.
Bank of America has sold $25 billion of investment-grade notes this year.
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