BofA Looks to Link Up Bond Issuers With Minority-Run Banks
Bloomberg 3 hrs ago Molly Smith and Caleb Mutua
(Bloomberg) Bank of America Corp. held a conference last week to connect minority-run banks with companies that borrow in bond markets in an effort to increase diversity in debt underwriting.
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The Charlotte, North Carolina-based lender consistently one of the largest underwriters of U.S. investment-grade corporate bond sales over the last two decades is also looking to increase the proportion of fees that companies direct to minority-owned dealers that join its syndicates for bond sales, said Andrew Karp, the bank’s head of investment-grade capital markets. He declined to provide specific figures.