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Bank of America 2Y, 3Y Fix/SOFR on Tap

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Rate locks tied to BoA 4pt issuance contributed to a degree to this morning's curve flattening sell-off in the short end. That said, rather decent volume since the open much more than what would be attributed to supply hedging. Of note, in mid-January of this year, BoA issued $3B 4NC3 +120 (dropped SOFR leg).

  • Date $MM Issuer (Priced *, Launch #)
  • 08/14 $Benchmark Bank of America 2Y +75a, 2Y SOFR, 3Y +100, 3Y SOFR
  • 08/14 $Benchmark Huntington Bancshares 6NC5 +200a
  • 08/14 $Benchmark Fiserv Inc 5Y +125a, 10Y +175a
  • 08/14 $Benchmark Otis Worldwide 5Y +110a
  • 08/14 $500M PBF Energy 7NC3

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