Bank of America Launches Investment-Grade Bond Sale

Bank of America Corp. launched the sale of investment-grade bonds after releasing its third-quarter financial results. The lender is marketing debt across up to four tranches with maturities spanning three to 11 years.

The longest tranche is initially offered at a yield premium of approximately 1.2 percentage points over Treasuries. This move makes Bank of America the third major Wall Street firm to enter the bond market during a week characterized as turbulent.