Bank of America Sells a Preferred Offering
By: Tim McPartland,
Bank of America has sold a new preferred stock offering.
The coupon on the issue is 6.50% and since it is a banking issue it is non cumulative. The issue is rated BB by Standard and Poors and Ba3 by Moodys.
The issue will begin to trade on the OTC grey market starting tomorrow (Thursday) under the temporary ticker symbol BKMRP.
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Details of the offering 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.
