MUFG Americas Holdings Corporation Announces Redemption Amount Calculation Relating to Redemption of Senior Notes due 2022 and 2025

Rhea-AI Summary

MUFG Americas Holdings Corporation has announced the redemption prices for its 3.50% Senior Notes due 2022 and 3.00% Senior Notes due 2025. The outstanding principal for both notes is $400 million each. The redemption price for the 2022 Notes is $1,018.34 per $1,000 principal, including an $18.34 make-whole premium and $5,755,555.56 in accrued interest. The 2025 Notes will be redeemed at $1,059.56 per $1,000 principal, consisting of a $59.56 make-whole premium and $3,200,000 in accrued interest. The redemption date is set for November 16, 2021.

Positive

• Clear plan for debt management with the redemption of $800 million in total notes.
• Redemption prices indicate potential for positive cash flow management.

Negative

• Redemption indicates an upcoming debt obligation of $800 million, potentially impacting liquidity.

NEW YORK, Nov. 10, 2021 /PRNewswire/ -- Pursuant to the separate notices of redemption dated October 15, 2021 (the "Notices") relating to all of the outstanding principal amount of its 3.50% Senior Notes due 2022 (the "2022 Notes") and all of the outstanding principal amount of its 3.00% Senior Notes due 2025 (the "2025 Notes" and, together with the 2022 Notes, the "Notes"), MUFG Americas Holdings Corporation today announced the calculation of the redemption prices for the Notes. The aggregate principal amount of the 2022 Notes outstanding is $400,000,000 and the aggregate principal amount of the 2025 Notes outstanding is also $400,000,000.

The redemption amount for the 2022 Notes will be $1,018.34 per $1,000.00 principal amount of 2022 Notes, consisting of the make-whole premium of $18.34 per $1,000.00 (based on a Treasury Rate of 0.078902%, as calculated on the date hereof), plus $5,755,555.56 in accrued and unpaid interest to but excluding the redemption date for the 2022 Notes, all as calculated in accordance with the terms of the indenture governing the 2022 Notes.

The redemption amount for the 2025 Notes will be $1,059.56 per $1,000.00 principal amount of 2025 Notes, consisting of the make-whole premium of $59.56 per $1000.00 (based on a Treasury Rate of 0.919008%, as calculated on the date hereof), plus $3,200,000.00 in accrued and unpaid interest to but excluding the redemption date for the 2025 Notes, all as calculated in accordance with the terms of the indenture governing the 2025 Notes.

The redemption date for the Notes is November 16, 2021, as set forth in the Notices. This press release is not an offer to sell or a solicitation of an offer to buy any securities.

About Mitsubishi UFJ Financial Group, Inc.'s U.S. Operations including MUFG Americas Holdings Corporation

The U.S. operations of Mitsubishi UFJ Financial Group, Inc. (MUFG), one of the world's leading financial groups, has total assets of $325 billion at June 30, 2021. As part of that total, MUFG Americas Holdings Corporation (MUAH), a financial holding company, bank holding company, and intermediate holding company, has total assets of $165.3 billion at June 30, 2021. MUAH's main subsidiaries are MUFG Union Bank, N.A. and MUFG Securities Americas Inc. MUFG Union Bank, N.A. provides a wide range of financial services to consumers, small businesses, middle-market companies, and major corporations. As of June 30, 2021, MUFG Union Bank, N.A. operated 305 branches, consisting primarily of retail banking branches in the West Coast states, along with commercial branches in Texas, Illinois, New York, and Georgia. MUFG Securities Americas Inc. is a registered securities broker-dealer which engages in capital markets origination transactions, domestic and foreign debt and equities securities transactions, private placements, collateralized financings, and securities borrowing and lending transactions. MUAH is owned by MUFG Bank, Ltd. and Mitsubishi UFJ Financial Group, Inc. MUFG Bank, Ltd., a wholly owned subsidiary of Mitsubishi UFJ Financial Group, Inc., has offices in Argentina, Brazil, Chile, Colombia, Peru, Mexico, and Canada. Visit www.unionbank.com or www.mufgamericas.com for more information.

Press contact:
Daniel Weidman
1 (877) 823-2972
Daniel.Weidman@unionbank.com

Investor contact:
Stanley Cecala
1 (212) 782-5629
Stanley.Cecala@unionbank.com

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SOURCE MUFG Americas Holdings Corporation

FAQ

What is the redemption price for MUFG's 2022 Senior Notes?

The redemption price for MUFG's 2022 Senior Notes is $1,018.34 per $1,000 principal.

When is the redemption date for MUFG's Senior Notes?

The redemption date for MUFG's Senior Notes is November 16, 2021.

How much principal amount is outstanding for MUFG's 2025 Senior Notes?

The aggregate principal amount outstanding for MUFG's 2025 Senior Notes is $400 million.

What are the make-whole premiums for MUFG’s Senior Notes?

The make-whole premium for the 2022 Notes is $18.34, and for the 2025 Notes, it is $59.56.

What is the total accrued interest for the 2022 Senior Notes?

The total accrued interest for the 2022 Senior Notes is $5,755,555.56.