BofA has launched an investment-grade bond offering, marketing up to four
tranches with tenors from about 3 to 11 years, a person familiar said. The
longest tranche is initially priced at roughly 120 bps over US Treasuries. The
rare Friday deal makes BofA the third major Wall Street bank this week to tap
the volatile bond market after Q3 results; several issuers have delayed
high-grade supply as stronger-than-expected inflation prints and concerns about
AI-driven trading have roiled US Treasury yields. BofA has raised $17bn
year-to-date, the least among the six largest US banks, and last issued debt in
April when it raised $10bn.
