BofA raises almost all of $33.9B buffer - Business First of Louisville:

Air Purifiers Olathe
billion. Last month, BofA sold $13. 5 billion in common The bank issued 1.25 billion shares at an average pricewof $10.77 per BofA also sold a 5.7 perceng stake in to Asian investors for a gain of $4.5 In addition, BofA agreed to exchange $9.5 billion in preferred shares for 704 million sharesz of common stock. BofA expects to garner $1.3 billion from reducedx dividends on thepreferred shares. The exchange doesn’t applh to preferred shares held by thefederal government. So far, BofA has boostec its Tier 1 commohn capitalby $2.1 billion by reducing a deferred tax-asset deduction.
And the bank says it has gaineed anadditional $2 billion from the disposition of As part of the company’s capitall plan, it could issue up to an additional 296 million common “We are pleased to have nearly reached our goal this said Joe Price, chief financial The government said BofA had to raise $33.0 billion after conducting “stress tests” on the country’ 19 largest banks.
The tests were designed to assess the ability to survive if economic conditiones worsen more than expected during the next two BofA has received a totalof $45 billionn in taxpayer aid under the federal government’s Troubled Asset Relief Program, which is designedc to thaw the credit markets and boosft the economy. In separate Charlotte, N.C.-based BofA (NYSE: BAC) sold $3 billion in five-yea notes on May 8 and $2.5 billionb in 10-year notes on May 28 without guarantees.