Summary
The Bank of New York Mellon Corporation (BK) has announced through a press release dated September 5, 2023, that its indirect wholly owned subsidiary, BNY Mellon Capital Markets, LLC, has launched a cash tender offer. This offer aims to purchase any and all of specific senior medium-term notes issued by the Corporation. The tender offer targets notes with maturities in 2023 and 2025, including a 0.350% Senior Medium-Term Note, Series J due 2023, and two series of Senior Medium-Term Notes, Series J due 2025 with coupon rates of 3.350% and 3.430% (fixed/floating rate callable). This action indicates a proactive approach by BNY Mellon to manage its outstanding debt obligations. Investors holding these specific notes should review the terms of the tender offer, including pricing and deadlines, to decide whether to participate. While the press release details the commencement of the offer, it also clarifies that this filing is not an offer to purchase and that the offer is subject to jurisdictional laws. Further details are available in the referenced press release.
Key Highlights
- 1BNY Mellon Capital Markets, LLC, a subsidiary of BK, has launched a cash tender offer.
- 2The tender offer is for 'any and all' of specified outstanding senior medium-term notes.
- 3The targeted securities include notes maturing in 2023 and 2025.
- 4Specific notes included are 0.350% Senior Medium-Term Notes, Series J due 2023.
- 5Specific notes included are 3.350% Senior Medium-Term Notes, Series J due 2025.
- 6Specific notes included are 3.430% Fixed/Floating Rate Callable Senior Medium-Term Notes, Series J due 2025.
- 7The offer is subject to limitations and compliance with applicable laws in various jurisdictions.