Truist announces redemption of senior notes due May 2021

Rhea-AI Summary

Truist Financial Corporation (NYSE: TFC) announced the redemption of $1.25 billion of its 2.050% senior notes due on May 10, 2021. The redemption will occur on April 9, 2021, at a price equal to 100% of the principal amount plus accrued interest up to the redemption date. Interest will cease to accrue after this date. Truist, headquartered in Charlotte, NC, is the sixth-largest commercial bank in the U.S. with total assets of $509 billion as of December 31, 2020.

Positive

• Redemption of $1.25 billion senior notes positively impacts the company's debt management.
• 100% of the principal amount will be redeemed, indicating financial stability.

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• None.

CHARLOTTE, N.C., March 30, 2021 /PRNewswire/ -- Truist Financial Corporation (NYSE: TFC) today announced it will redeem all $1,250,000,000 principal amount outstanding of its 2.050% senior notes due May 10, 2021 (CUSIP No. 05531FAV5) on the redemption date of April 9, 2021.

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

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 inspire and build 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 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.

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SOURCE Truist Financial Corporation

FAQ

What is the redemption date for Truist Financial's senior notes?

The redemption date for Truist Financial's senior notes is April 9, 2021.

How much principal amount of senior notes is Truist redeeming?

Truist is redeeming $1.25 billion of its senior notes.

What is the interest rate of the senior notes being redeemed by TFC?

The interest rate of the senior notes being redeemed is 2.050%.

When do the senior notes due?

The senior notes are due on May 10, 2021.

Where is Truist Financial Corporation headquartered?

Truist Financial Corporation is headquartered in Charlotte, North Carolina.