Bank of America 2013 Annual Report Download - page 10

8
Setting records in London
London is one of the world’s
leading fi nancial centers, with
a highly diverse population.
From Covent Garden to Canary
Wharf, London is a center
of excellence for fi nance, the
arts, education and global
industry. We opened our fi rst
office in London 83 years
ago with 13 employees. And
while we continue to expand
our capabilities to serve
a new generation of clients
in London and the United
Kingdom, the one thing
that hasn’t changed is our
commitment to our clients.
LONDON CONNECTIONS
• Global Ambassadors Programme —
We believe strong leaders can be drivers
of economic opportunities and that
women are a force to drive economic,
political and social change. This is the
reason why we partnered with the
charity Vital Voices to develop our
Global Ambassadors Programme.
Global Ambassadors invests in the
potential of emerging women leaders
around the world by matching them
with mentors who are established
leaders, including our Bank of America
Merrill Lynch leaders.
• As a part of our focus on making
connections to help improve lives,
Bank of America is working with
several partner organizations to support
global health issues. In recognition
of World AIDS Day on December 1, we
made a $250,000 contribution to the
George W. Bush Institute that will
build on efforts to control and treat
HIV. We also recently partnered
with the Global HIV/AIDS fundraising
organization (RED) and rock group
U2 to generate more than $10 million
to fi ght AIDS.
London
London
Supporting the second-largest
M&A deal in history
In September, Verizon Communications
agreed to spend $130 billion for Vodafone
Group’s 45 percent stake in Verizon Wireless.
Bank of America Merrill Lynch stepped
in to provide $61 billion in fi nancing for Verizon
to fund operations during the transaction.
We played a leading role in Verizon’s execution
of the largest high-grade bond transaction.
Additionally, working across teams to bring the
power of Bank of America Merrill Lynch, we
were uniquely positioned to offer mergers and
acquisitions advice and a signifi cant balance
sheet commitment. The deal attracted more
than $100 billion in demand from bond
investors, resulting in $49 billion in fi nancing
for Verizon, dramatically exceeding market
predictions. These milestones established
us as a leader in future mergers and
acquisitions activity and broke debt-market
records, establishing new industry thresholds.
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