BofA Offers to Repurchase $1.75 Billion of Its Own Debt

[Alekbaylee]

http://www.businessweek.com/news/2012-04-25/bofa-offers-to-repurchase-1-dot-75-billion-of-its-own-debt

[nkp007]

Great plan!

 

Don't ask for dividend / repurchase permission; instead, use excess cash to buy back debt.

 

 

[PlanMaestro]

Great plan!

 

Don't ask for dividend / repurchase permission; instead, use excess cash to buy back debt.

 

With a 74% loans to deposits, there is no need for expensive financing especially if it is expensive and does not contribute to capital ratios. Too much liquidity!

[txlaw]

Great plan!

 

Don't ask for dividend / repurchase permission; instead, use excess cash to buy back debt.

 

With a 74% loans to deposits, there is no need for expensive financing especially if it is expensive and does not contribute to capital ratios. Too much liquidity!

 

Indeed.  We've been seeing WFC constantly do this over the last quarters.  I love seeing BAC do this as well. 

[nkp007]

Great plan!

 

Don't ask for dividend / repurchase permission; instead, use excess cash to buy back debt.

 

With a 74% loans to deposits, there is no need for expensive financing especially if it is expensive and does not contribute to capital ratios. Too much liquidity!

 

Yep. Looks like low hanging fruit.