SAN FRANCISCO -- Bank of America said it has renewed and increased to $120 million an $80 million U.S. commercial paper program originally arranged for Brazil's Banco Real last October. Banco Real will utilize proceeds from the program, which was oversubscribed, for trade financing purposes.

The unit of BankAmerica Corp. said the program is supported by a letter of credit issued by Barclays Bank PLC, and the commercial paper is rated A1-plus by Standard & Poor's and Prime-1 by Moody's Investor Service. Bank of America said it syndicated the letter of credit and a liquidity facility among a group of 13 international banks.

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