Banc of America Securities Announces Loan Trading Assignment Fees to be Waived
January 31, 2006, NEW YORK - Bank of America is pleased to announce a new practice regarding loan assignment fees. Effective immediately, assignment fees will be waived for all lenders and other agents trading a Bank of America-agented syndicated loan, except in those circumstances when a loan is traded through an agent that does not waive assignment fees for the benefit of Bank of America.
Jeff Kane, global head of Credit Syndicate said, “We believe this change adds to the increasing transparency and liquidity of the syndicated loan markets.”
Lenders and agents with inquiries about the pricing agreements should contact Ed Hamilton, head of Secondary Par Loan Sales and Trading, at 704-388-8809.
All media inquiries should go through Louise Hennessy, Corporate Communications, at 212-847-5403.
About Bank of America
Bank of America (NYSE:BAC) is one of the world’s leading financial services companies. The company’s Global Corporate and Investment Banking group (GCIB) provides investment banking, equity and debt capital raising, research, trading, risk management, treasury management and financial advisory services. Through offices in more than 30 countries, GCIB serves domestic and international corporations, institutional investors, financial institutions and government entities. Many of the bank’s services to corporate and institutional clients are provided through its U.S. and UK subsidiaries, Banc of America Securities LLC and Banc of America Securities Limited.
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