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BofA Raises $19.3 Billion

By Anonymous

From Bloomberg: Bank of America Raises $19.3 Billion in Share Sale at $15 Each

Bank of America Corp., which plans to repay $45 billion of U.S. government bailout money, raised $19.3 billion in a sale of securities at $15 apiece, a 4.8 percent discount to its common stock.

This means BofA should repay the $45 Billion in TARP money tomorrow or early next week.

I expect other banks - possibly Wells Fargo and Citigroup - to raise capital too. (ht jb)

Full post as published by Calculated Risk on December 03, 2009 (boomark / email).