Bank of America Announces 6.625% Preferred Offering

By: ,

September 3, 2014    7:45 am

Bank of America has announced a new issue of non cumulative preferred stock with a coupon of 6.625%.

Because this issue is perpetual (and is non cumulative) we have no interest in the issue at this time.  We are trying to shorten durations of our holdings and buying ‘perpetual’ issues is contrary to where we are going at this  point in time.

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Details of the issue are here.

 

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