Truist Bank Announces Redemption of Senior Notes due May 2022
Truist Bank, located in Charlotte, N.C., is set to redeem $1.35 billion of its 2.800% senior notes and $650 million of its floating rate senior notes on April 17, 2022.
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Rhea-AI Summary
Truist Bank, located in Charlotte, N.C., is set to redeem $1.35 billion of its 2.800% senior notes and $650 million of its floating rate senior notes on April 17, 2022. The redemption price will be 100% of the principal amount plus accrued interest. Payments will be made the next business day, April 18, 2022, due to the redemption date falling on a weekend. With over $541 billion in total assets as of December 31, 2021, Truist remains a top 10 U.S. commercial bank, offering a wide range of financial services.
Positive
- Redemption of $1.35 billion in 2.800% senior notes enhances balance sheet liquidity.
- Redemption of $650 million in floating rate senior notes reduces interest expense.
Negative
- None.
Details
News Market Reaction – TFC
The recorded move for TFC in the trading session of this news was -2.42%.
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CHARLOTTE, N.C., March 31, 2022 /PRNewswire/ -- Truist Bank today announced it will redeem on April 17, 2022, all
The redemption price for the senior notes will be equal to
As the redemption date occurs on a weekend, payment of the redemption price for the senior notes will be made the next business day, April 18, 2022, through the facilities of The Depository Trust Company.
Truist Financial Corporation is a purpose-driven financial services company committed to inspiring and building better lives and communities. Formed by a historic merger of equals, 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-bank-announces-redemption-of-senior-notes-due-may-2022-301514933.html
SOURCE Truist Financial Corporation
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