Bank of America Announces Waiver of Certain Conditions to Cash Tender Offer for MBIA Notes
Bank of America Corporation announced today, in connection with its pending offer to purchase for cash (the “Tender Offer”) any and all of the outstanding 5.70% Senior Notes due 2034 (CUSIP No. 55262CAJ9) issued by MBIA Inc., a Connecticut corporation, that it has waived all conditions to the Tender Offer, except for the General Conditions [as defined in the Offer to Purchase dated November 13, 2012 (the "Offer to Purchase")].
Except for the foregoing, the terms of the Tender Offer remain in effect as described in the Offer to Purchase and the related Letter of Transmittal.
The Tender Offer will expire at 11:59 p.m., New York City time, on December 11, 2012, unless extended.
Requests for documents and questions regarding procedures for submission of tenders should be directed to D.F. King & Co., Inc., the information agent, at 1.800.848.3416 (U.S. toll-free), 212.269.5550 (banks and brokers only, call collect) or at firstname.lastname@example.org or by visiting http://www.dfking.com/mbia. Questions regarding the Tender Offer may also be directed to BofA Merrill Lynch, the dealer manager, at 1.888.292.0070 (U.S. toll-free) or 980.388.4813 (collect).
This news release shall not constitute a solicitation to buy or an offer to purchase any securities. The Tender Offer is being made solely pursuant to, and in accordance with the terms and conditions specified in, the Offer to Purchase and the related Letter of Transmittal. No offer, solicitation, purchase or sale will be made in any jurisdiction in which such an offer, solicitation, or sale would be unlawful. None of Bank of America, its board of directors, officers or affiliates, the dealer manager, the information agent, or the trustee is making any recommendation as to whether eligible holders should tender their notes in the Tender Offer.
Bank of America
Bank of America is one of the world's largest financial institutions, serving individual consumers, small- and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving more than 55 million consumer and small business relationships with approximately 5,500 retail banking offices and approximately 16,300 ATMs and award-winning online banking with 30 million active users. Bank of America is among the world's leading wealth management companies and is a global leader in corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to more than 3 million small business owners through a suite of innovative, easy-to-use online products and services. The company serves clients through operations in more than 40 countries. Bank of America Corporation stock (NYSE: BAC) is a component of the Dow Jones Industrial Average and is listed on the New York Stock Exchange.
Certain statements in this news release represent the current expectations, plans or forecasts of Bank of America and are forward-looking. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. These statements often use words like “expects,” “anticipates,” “believes,” “estimates,” “targets,” “intends,” “plans,” “predict,” “goal” and other similar expressions or future or conditional verbs such as “will,” “may,” “might,” “should,” “would” and “could.” The forward-looking statements made in this press release include, without limitation, statements concerning the Tender Offer and the expected timing of payment for the tendered notes. Forward-looking statements speak only as of the date they are made, and Bank of America undertakes no obligation to update any forward-looking statement to reflect the impact of circumstances or events that arise after the date the forward-looking statement was made.
These statements are not guarantees of future results or performance and involve certain risks, uncertainties and assumptions that are difficult to predict and are often beyond Bank of America's control. Actual outcomes and results may differ materially from those expressed in, or implied by, any of these forward-looking statements. You should not place undue reliance on any forward-looking statement and should consider all of the uncertainties and risks discussed under Item 1A. “Risk Factors” of Bank of America's Annual Report on Form 10-K for the year ended December 31, 2011 and in any of Bank of America's other subsequent Securities and Exchange Commission filings.
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Investors May Contact:
Kevin Stitt, Bank of America, 1.980.386.5667
Lee McEntire, Bank of America, 1.980.388.6780
Reporters May Contact:
Jerry Dubrowski, Bank of America, 1.980.388.2840