BNY Mellon Announces Redemption of 2.450% Senior Notes Due 2020
BNY Mellon has announced the redemption of all issued 2.450% Senior Notes due November 27, 2020, totaling $800 million.
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Rhea-AI Summary
BNY Mellon has announced the redemption of all issued 2.450% Senior Notes due November 27, 2020, totaling $800 million. The redemption date is set for October 27, 2020, where the principal amount will be redeemed at 100% plus any accrued interest. Following the redemption date, the notes will no longer be considered outstanding, and no further interest will accrue. The payment will be facilitated through The Depository Trust Company. As of June 30, 2020, BNY Mellon managed $37.3 trillion in assets under custody.
Positive
- Redemption of $800 million in Senior Notes can strengthen BNY Mellon's balance sheet.
- Eliminating debt with a fixed interest rate reduces interest expense moving forward.
Negative
- None.
Details
News Market Reaction – BK
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NEW YORK, Oct. 13, 2020 /PRNewswire/ -- The Bank of New York Mellon Corporation ("BNY Mellon") today announced that it will redeem all of the issued and outstanding
The redemption date for the Notes is October 27, 2020 (the "redemption date"). The redemption price for the Notes will equal
On and after the redemption date, the Notes will no longer be deemed outstanding and interest will no longer accrue on such securities.
Payment of the redemption price will be made through the facilities of The Depository Trust Company.
About BNY Mellon
BNY Mellon is a global investments company dedicated to helping its clients manage and service their financial assets throughout the investment lifecycle. Whether providing financial services for institutions, corporations or individual investors, BNY Mellon delivers informed investment and wealth management and investment services in 35 countries. As of June 30, 2020, BNY Mellon had
Contacts:
Media
Manny Goncalves
+1 973-809-1114
manuel.goncalves@bnymellon.com
Analysts
Magda Palczynska
+1 212 635 8529
magda.palczynska@bnymellon.com
View original content:http://www.prnewswire.com/news-releases/bny-mellon-announces-redemption-of-2-450-senior-notes-due-2020--301150574.html
SOURCE BNY Mellon
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