Bloomberg News

Bank of America Asks Some Trust Preferred Holders to Amend Terms

November 15, 2011

Nov. 15 (Bloomberg) -- Bank of America Corp., the lender that’s planning to cut debt and bolster its balance sheet, said it’s seeking consent from holders to amend certain trust preferred securities.

Holders are being offered a cash payment of $2.50 for each $1,000 in liquidation amount or $0.0625 for each $25 in liquidation amount of the securities, according to a statement today from the Charlotte, North Carolina-based lender.

Link to Statement:{NSN LUPG803V280V <GO>}

To contact the reporter on this story: Hugh Son in New York at hson1@bloomberg.net

To contact the editor responsible for this story: Rick Green at rgreen18@bloomberg.net


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