Truist announces redemption of senior notes due April 2022
Truist Financial Corporation (NYSE: TFC) has announced the redemption of all $1 billion in 2.750% senior notes and $350 million in floating rate senior notes, both maturing on April 1, 2022.
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Rhea-AI Summary
Truist Financial Corporation (NYSE: TFC) has announced the redemption of all $1 billion in 2.750% senior notes and $350 million in floating rate senior notes, both maturing on April 1, 2022. The redemption will occur on March 1, 2022, at 100% of the principal amount plus accrued interest. Following the redemption date, interest will cease to accrue. This strategic move aligns with Truist's broader financial management and aims to enhance its capital structure.
Positive
- Redemption of $1 billion in 2.750% senior notes enhances financial management.
- Redemption of $350 million in floating rate senior notes improves capital structure.
Negative
- None.
Details
News Market Reaction – TFC
The recorded move for TFC in the trading session of this news was -0.37%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
CHARLOTTE, N.C., Feb. 17, 2022 /PRNewswire/ -- Truist Financial Corporation (NYSE: TFC) today announced it will redeem on Mar. 1, 2022, all
The redemption price for the senior notes will be equal to
Payment of the redemption price for the senior notes will be made through the facilities of The Depository Trust Company.
About Truist
Truist Financial Corporation is a purpose-driven financial services company committed to inspiring and building better lives and communities. Formed by the historic merger of equals of BB&T and SunTrust, Truist has leading market share in many high-growth markets in the country. The company offers a wide range of services including retail, small business and commercial banking; asset management; capital markets; commercial real estate; corporate and institutional banking; insurance; mortgage; payments; specialized lending; and wealth management. Headquartered in Charlotte, North Carolina, Truist is a top 10 U.S. commercial bank with total assets of
View original content:https://www.prnewswire.com/news-releases/truist-announces-redemption-of-senior-notes-due-april-2022-301485173.html
SOURCE Truist Financial Corporation
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