BofA raises almost all of $33.9B buffer - Baltimore Business Journal:

http://thenortherncold.com/2010/02/14/february-14-2010-podcast/
billion. Last month, BofA sold $13.5 billion in commoj stock. The bank issued 1.25 billion shares at an average pricerof $10.77 per share. BofA also sold a 5.7 perceny stake in to Asian investors for a gainof $4.5 billion. In BofA agreed to exchanged $9.5 billion in preferred shares for 704 million shareds ofcommon stock. BofA expects to garnetr $1.3 billion from reduced dividends on the preferred Theexchange doesn’t apply to preferredx shares held by the federal So far, BofA has boostedx its Tier 1 common capital by $2.1 billion by reducing a deferrerd tax-asset deduction.
And the bank says it has gainecd anadditional $2 billion from the disposition of As part of the company’s capital plan, it could issur up to an additional 296 million commonm shares. “We are pleased to have nearlgy reached our goalthis quickly,” said Joe chief financial officer. The government said BofA had toraisre $33.9 billion after conductin g “stress tests” on the country’s 19 largest The tests were designed to assesas the banks’ ability to survived if economic conditions worsen more than expectedr during the next two years.
BofA has received a total of $45 billion in taxpayerd aid under thefederal government’s Troublee Asset Relief Program, which is designede to thaw the credit markets and boost the In separate developments, N.C.-based BofA (NYSE: BAC) sold $3 billion in five-yeart notes on May 8 and $2.5 billionj in 10-year notes on May 28 without guarantees.