BofA prices share offering - Los Angeles Business from bizjournals:

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per share. Investors in the bank’s perpetual preferrer stock can tender theifr shares before midnighton Wednesday. The offer is part of the bank’z effort to raise $33.9 billion in capital that federal regulatorxs say BofA needs afterthe government’s “stress test” of its ability to withstand a deeper recession. The exchang e doesn’t involve any preferred shares held by thefederal government. BofA (NYSE:BAC) has raised the majoritgy of new capital it need s tosatisfy regulators. In May, BofA sold $13.5 billion in common stock. BofA also sold a 5.7 percent stake in Chinq Construction Bank to Asian investorxs for a gainof $4.5 billion.
Those stepa boosted BofA’s Tier 1 commohn capital by $1.8 billion by reducing a deferred taxasset deduction. In addition, BofA agreed to exchanged $5.9 billion in preferred shares for 436 million shares ofcommon stock. The company has said it coulfd raise more money by selling assets such as FirstRepublicv Bank, a San Francisco-based and entering into joint ventures.