Summary
This 8-K filing by BB&T Corporation (now Truist Financial Corp.) on August 12, 2011, primarily concerns the company's updated Medium-Term Note Program. The program allows BB&T to issue Senior (Series C) and Subordinated (Series D) Notes. This update establishes the framework for issuing these notes under existing and amended indentures, with a registration statement on Form S-3 filed previously to cover these issuances. For investors, this filing signifies BB&T's ongoing access to debt capital markets. The ability to issue both senior and subordinated debt provides flexibility in its funding strategies and capital structure management. The engagement of multiple agents, including BB&T Capital Markets, Deutsche Bank Securities Inc., indicates a broad distribution strategy for these notes.
Key Highlights
- 1BB&T Corporation updated its Medium-Term Note Program on August 11, 2011.
- 2The program allows for the issuance of Series C (Senior) and Series D (Subordinated) Medium-Term Notes.
- 3These notes will be issued under established Senior and Subordinated Note Indentures, with specified amendments.
- 4The company previously filed a registration statement on Form S-3 (File No. 333-175538) on July 13, 2011, for these issuances.
- 5A Distribution Agreement was entered into with BB&T Capital Markets, Deutsche Bank Securities Inc., and other agents for the sale of the Notes.
- 6The filing includes various exhibits detailing the specific forms of Series C and Series D notes, as well as the Distribution Agreement.