Truist Announces Redemption of Senior Notes due March 2021

Truist Financial Corporation (NYSE: TFC) has announced the redemption of all $1 billion principal amount of its 2.90% Senior Notes due March 3, 2021, effective February 3, 2021.

Rhea-AI Summary

Truist Financial Corporation (NYSE: TFC) has announced the redemption of all $1 billion principal amount of its 2.90% Senior Notes due March 3, 2021, effective February 3, 2021. The redemption price will be 100% of the principal plus accrued interest. Payment will be processed through The Depository Trust Company. As of December 31, 2020, Truist's total assets stood at $509 billion, making it the sixth-largest commercial bank in the U.S.

Positive

• Redemption of $1 billion in Senior Notes enhances financial flexibility.
• Truist remains a strong financial entity with $509 billion in total assets.

Negative

• None.

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CHARLOTTE, N.C., Jan. 21, 2021 /PRNewswire/ -- Truist Financial Corporation (NYSE: TFC) today announced it will redeem all $1,000,000,000 principal amount outstanding of its 2.90% Senior Notes due March 3, 2021 (CUSIP 867914BK8) (the "Notes") on February 3, 2021 (the "Redemption Date").

The redemption price for the Notes will be equal to 100% of the principal amount of the Notes plus accrued but unpaid interest on the Notes to, but excluding, the Redemption Date.  Interest on the Notes will cease to accrue on and after the Redemption Date.

Payment of the redemption price for the 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 inspire and build better lives and communities. With the combined history 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 the sixth-largest commercial bank in the U.S. with total assets of $509 billion as of December 31, 2020. Truist Bank, Member FDIC. Learn more at Truist.com.

View original content:http://www.prnewswire.com/news-releases/truist-announces-redemption-of-senior-notes-due-march-2021-301212829.html

SOURCE Truist Financial Corporation

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

When is the redemption date for Truist's Senior Notes due March 2021?

The redemption date is February 3, 2021.

What is the principal amount of the Senior Notes being redeemed by Truist?

Truist is redeeming $1 billion in Senior Notes.

What will happen to the interest on Truist's Senior Notes after the redemption date?

Interest will cease to accrue on and after the redemption date.

Where will the payment for the redeemed Senior Notes be processed?

Payments will be made through The Depository Trust Company.

How large is Truist Financial Corporation in terms of assets?

As of December 31, 2020, Truist has total assets of $509 billion.