Bank of America Tapped as an Underwriter for Major RAC IPO in London

Bank of America, Goldman Sachs, and Barclays will arrange a potential Initial Public Offering for the British breakdown and car insurance firm RAC. The London listing could value RAC at approximately £5 billion ($6.9 billion).

The appointment represents a significant mandate for Bank of America’s investment banking arm in the European market. While the fees will be beneficial, the deal’s overall financial impact on Bank of America is not expected to be substantial.