A termsheet seen by Reuters showed that the Bank of America Corp (BOA) would exit from China Construction Bank Corp (CCB) after eight years. The filing also revealed that Bank of America would launch a USD 1.5 billion share offering for its stake in the second biggest lender in the mainland.

BOA would be offloading the 2 billion shares it holds in CCB. The price for the offering would range from HKD 5.63 to HKD 5.81 per share.

Bank of America has been selling non-core investments in recent years to shore up its own balance sheet. Reuters reported that the exit from CCB was just another way BOA Chief Executive Officer Brian Moynihan would do to increase Bank of America's capital ratios.

Two years ago, BOA also sold some of its shares in CCB to investors led by Temasek Holdings of Singapore. The 2011 deal had raised USD 14.9 billion in funds for Bank of America.