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LONDON - Bank of America Corporation (NYSE:BAC) has increased its stake in British airline easyJet PLC (LSE:LON:EZJ) to 8.63% of voting rights, according to a regulatory filing published Tuesday.
The American banking giant crossed the notification threshold on June 30, with its position now consisting of 0.05% in direct voting rights attached to shares and 8.58% through financial instruments.
The majority of Bank of America’s exposure comes through cash-settled swaps, which account for approximately 8.46% of voting rights. The bank also holds physical options, physical swaps, and rights to recall that make up the remainder of its position.
This represents an increase in Bank of America’s overall stake from its previous notification, which disclosed a 9.37% position. However, the composition has shifted, with a greater proportion now held through financial instruments rather than direct shares.
The notification was made in accordance with UK regulatory requirements that mandate disclosure when significant shareholding thresholds are crossed in publicly listed companies.
Bank of America’s position includes various financial instruments with expiration dates ranging from July 2025 to February 2028, according to the regulatory filing based on a standard form for notification of major holdings.
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