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BofA Sells $1.5B In Debt

Bank of America has raised $1.5 billion through a debt issue.

    Bank of America(BofA) has raised $1.5 billion through a debt issue,The Wall Street Journalreports.Bank of America Merrill Lynchwas the sole bookrunning manager for the transaction.

    The notes, which carry a coupon rate of 3.625%, are due to mature on March 17, 2016, addsReuters. The lender may use the net proceeds for general corporate purposes, which could include the repayment of remaining debt securities.

    Click here for the story fromThe Wall Street Journal.

    Click here for additional coverage fromReuters.

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