Bank of America $2.5 billion preferred stock offering
The company issued depositary shares representing interests in fixed-rate reset non-cumulative preferred stock
Davis Polk advised the lead manager, sole book-runner and representative of the several underwriters in connection with Bank of America Corporation’s $2.5 billion SEC-registered offering of 2.5 million depositary shares, each representing a 1/25th interest in a share of Bank of America Corporation’s 6.250% fixed-rate reset non-cumulative preferred stock, Series UU.
The Davis Polk tax team also advised Bank of America Corporation in connection with the offering.
The Davis Polk corporate team included partner Christopher S. Schell, counsel Michael J. Russo and associate Jonathan Perlman. The tax team included partner Lucy W. Farr, counsel David S. Fisher and associate Xiyuan (Spencer) Pan. All members of the Davis Polk team are based in the New York office.