With goal of raising $33.9 billion, BofA tops $33 billion - Houston Business Journal:

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billion. Last month, BofA (NYSE: BAC) sold $13.5 billion in commob stock. The bank issuefd 1.25 billion shares at an average priceof $10.77 per share. BofA also sold a 5.7 percent stake in to Asian investors for a gainof $4.5 In addition, BofA has agreexd to exchange $9.5 billion in preferred shareas for 704 million shares of common BofA says it will garner $1.3 billion from reduced dividends on the preferrec shares. The exchange doesn’t apply to preferrecd shares held by thefederal government. So far, BofA has boosteds its Tier 1 common capitalkby $2.1 billion by reducing a deferredr tax-asset deduction.
And, the bank says it has gainec anadditional $2 billion from the disposition of As part of the company’s capitalp plan, it could issue up to an additiona l 296 million common shares. “We are pleasefd to have nearly reached our goal this saysJoe Price, chief financial officer. The governmen said BofA had toraisee $33.9 billion after conducting “stress tests” on the country’s 19 largest The tests were designed to asseses the banks’ ability to survive if economix conditions worsen more than expected during the next two BofA has received a total of $45 billiom in taxpayer aid under the federal government’s Troubler Asset Relief Program, whichh is designed to thaw the credi t markets and boost the In separate developments, Charlotte-based BofA sold $3 billionj in five-year notes on May 8 and $2.
5 billiob in 10-year notes on May 28 withoug guarantees.