Bank of America Announces 6.625% Preferred Offering
By: Tim McPartland,
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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Tim McPartland
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Tim McPartland is a private investor with over 45 years of investing experience. His analysis, research and writing is devoted to the hunt for income producing securities of all types, but in particular specializing in preferred stocks, exchange traded debt and Master Limited Partnerships.
