Bank of America Insights

After a decade of multibillion-dollar tech investments by banks, efficiency ratios have begun to improve and headcounts drop, some industry watchers say. Skeptics counter that other reasons are at play and that it's all hard to measure.

The deal also includes a series of exchangeable notes that will pay variable rates.

Scooter's Coffee brand sells beverages through a network of 910 locations across 32 states, virtually all of which are franchises (98%), and sells coffee through various formats, including coffeehouses or endcaps with drive-thrus and kiosks.

The 30-year bond's yield, which has closed above 5% every day since May 12, approached 4.98% at one point.

The deal also includes a 120-day stop advance provision, which prevents it from forwarding any interest and principal on loans that are past 120 days delinquent.

Demands for new data centers account for the surge in financing, while offering portfolio diversity.