Bank of America $1.5 billion cash tender offer for preferred stock
We represented BofAS in connection with 14 concurrent tender offers
Davis Polk advised BofA Securities, Inc. in connection with 14 concurrent, but separate, offers to purchase for cash up to $1.5 billion in aggregate liquidation preference certain outstanding depositary shares representing fractional interests in certain series of Bank of America preferred stock.
Bank of America is one of the world’s leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services.
The Davis Polk capital markets team included partner Christopher S. Schell, counsel Michael J. Russo and associate Nicollette Farkas. The tax team included partner Po Sit and associate Spencer Pan. Partner Zachary J. Zweihorn provided broker-dealer regulatory advice. Partners Randall D. Guynn and Gabriel D. Rosenberg and associates Dana E. Seesel and Eric Wall provided financial institutions advice. Members of the Davis Polk team are based in the New York, London and Washington DC offices.