Brown-Forman (BF) removes 1.200% Notes due 2026 from NYSE listing
Filing Impact
Filing Sentiment
Form Type
25-NSE
Rhea-AI Filing Summary
Brown-Forman Corp notified the New York Stock Exchange that the 1.200% Notes due 2026 have been removed from listing and/or registration under Section 12(b) of the Exchange Act. The Exchange and the issuer each certified compliance with the applicable withdrawal procedures under 17 CFR 240.12d2-2.
Positive
- None.
Negative
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Key Figures
Security removed: 1.200% Notes due 2026
Governing rule cited: 17 CFR 240.12d2-2
2 metrics
Security removed
1.200% Notes due 2026
class of securities listed/registered on NYSE
Governing rule cited
17 CFR 240.12d2-2
procedures for withdrawal from listing and registration
Key Terms
Form 25, Section 12(b), 17 CFR 240.12d2-2
3 terms
Form 25 regulatory
"FORM 25 NOTIFICATION OF REMOVAL FROM LISTING AND/OR REGISTRATION"
A Form 25 is an official filing with the U.S. Securities and Exchange Commission used to remove a company's stock or other security from a national exchange list. Investors should care because delisting often means less visibility, lower trading volume and wider price swings—similar to a product moving from a major supermarket to a small local market, which can make buying, selling and valuing the security more difficult.
Section 12(b) regulatory
"REMOVAL FROM LISTING AND/OR REGISTRATION UNDER SECTION 12(b) OF THE SECURITIES EXCHANGE ACT"
Section 12(b) of the U.S. Securities Exchange Act requires securities listed on a national stock exchange to be registered with the U.S. Securities and Exchange Commission (SEC) and to follow regular public reporting and disclosure rules. For investors, a 12(b) listing generally means more routine financial updates, regulatory oversight and easier buying and selling—like a storefront that must display its inventory and prices, making it simpler to inspect and trade the product.
17 CFR 240.12d2-2 regulatory
"Pursuant to 17 CFR 240.12d2-2(b), the Exchange has complied with its rules"
A U.S. Securities and Exchange Commission rule that describes the conditions and procedural steps for a security to be removed from public registration or reporting under the Securities Exchange Act of 1934. For investors, it matters because it explains when a company’s shares can stop being subject to regular disclosure and exchange listing rules — similar to knowing when a publicly tracked product will be discontinued and no longer send updates, which affects transparency and liquidity.
FAQ
What does Brown-Forman's Form 25 filing for the 1.200% Notes due 2026 mean?
It means the issuer and NYSE have certified the voluntary removal of the 1.200% Notes due 2026 from listing/registration under Section 12(b). The Exchange and issuer each state they complied with 17 CFR 240.12d2-2 procedures.
Will Brown-Forman (BF) remain subject to SEC reporting after the notes are delisted?
The filing concerns delisting of the 1.200% Notes due 2026 only. It does not state changes to the issuer's SEC reporting obligations for other securities or the company overall.
Who certified the removal of Brown-Forman's notes from the NYSE?
The New York Stock Exchange LLC certified it had reasonable grounds for the Form 25 filing, and an NYSE official (Tyler Mastronardi) signed the notification; the issuer also certified compliance with exchange rules.
Which regulatory rules are cited in the Form 25 for Brown-Forman's withdrawal?
The filing cites 17 CFR 240.12d2-2 (subsections (a)(1)–(4), (b) and (c)) as the governing rules for the voluntary withdrawal and exchange compliance.