Bank of America $5 billion fixed-to-floating-rate notes
The investment-grade notes are due 2035
Davis Polk advised the lead manager, sole book-runner and representative of the several underwriters in connection with an SEC-registered offering by Bank of America Corporation of $5 billion aggregate principal amount of 5.468% fixed-to-floating-rate senior notes due January 2035. During the floating-rate period, the notes bear interest by reference to SOFR, compounded daily over each quarterly interest payment period.
The Davis Polk tax team also advised Bank of America Corporation in connection with the foregoing offering.
The Davis Polk corporate team included partner Christopher S. Schell, counsel Michael J. Russo and associates Nicollette Farkas and Jonathan Perlman. Partner Lucy W. Farr and associate Spencer Pan provided tax advice. All members of the Davis Polk team are based in the New York office.