Summary
On February 1, 2011, The Bank of New York Mellon Corporation (BK) announced the successful issuance of new senior medium-term notes, totaling $1.2 billion in aggregate principal amount. This debt offering comprised $350 million of 1.500% Senior Medium-Term Notes Series G due 2014, $500 million of 4.150% Senior Medium-Term Notes Series G due 2014, and $350 million of Floating Rate Senior Medium-Term Notes Series G due 2014. These notes were registered under the Securities Act of 1933, indicating compliance with regulatory requirements. The issuance of debt provides BK with additional capital, which can be utilized for various corporate purposes, including funding operations, investments, or managing its balance sheet. Investors in these notes are lending to BK at specific interest rates and maturity dates, providing a fixed income opportunity.
Key Highlights
- 1BK announced the issuance of $1.2 billion in aggregate principal amount of Senior Medium-Term Notes.
- 2The issuance includes three tranches: 3-year fixed-rate notes, 10-year fixed-rate notes, and 3-year floating-rate notes.
- 3The fixed-rate notes carry coupons of 1.500% (3-year) and 4.150% (10-year).
- 4The notes were registered under the Securities Act of 1933.
- 5The debt issuance was completed on February 1, 2011.
- 6Legal opinions regarding the Notes were filed as exhibits.