8-KOther Events

TRUIST FINANCIAL CORP 8-K Report, Corporate Update (Aug 13, 2012)

Filed August 13, 2012For Securities:TFCTFC-POTFC-PRTFC-PI

Summary

This 8-K filing from BB&T Corporation (now Truist Financial Corp), dated August 13, 2012, announces the redemption of $55,375,000 of its 8.50% Trust Preferred Securities issued by BBC Capital Trust II. This redemption, scheduled for September 12, 2012, is exercisable at BB&T's option and is being funded by general corporate reserves. The securities being redeemed were assumed by BB&T as part of its acquisition of BankAtlantic, which closed on July 31, 2012. This move indicates BB&T's proactive management of its capital structure and liabilities following a significant acquisition. Investors should note that the redemption price will be the liquidation amount of $25 per security, plus any accrued and unpaid distributions.

Key Highlights

  • 1BB&T Corporation announces the redemption of $55,375,000 in 8.50% Trust Preferred Securities from BBC Capital Trust II.
  • 2The redemption date is set for September 12, 2012.
  • 3This redemption is being made at BB&T's option and is funded by the company's general corporate reserves.
  • 4The redeemed securities were originally acquired by BB&T through its recent acquisition of BankAtlantic, which was finalized on July 31, 2012.
  • 5The redemption price will be the liquidation amount of $25 per trust preferred security, plus any accrued and unpaid distributions.
  • 6This action reflects BB&T's active management of its financial obligations post-acquisition.

Frequently Asked Questions

BB&T Corporation is redeeming its 8.50% Trust Preferred Securities issued by BBC Capital Trust II, with a principal amount of $55,375,000.

BB&T is redeeming these securities because they are callable, and the company has exercised its option to do so. This action is part of their strategy following the acquisition of BankAtlantic.

The redemption will be funded by BB&T's general corporate reserves.

BB&T will pay the liquidation amount of $25 per trust preferred security, plus all accrued and unpaid distributions up to the redemption date of September 12, 2012. The total principal amount being redeemed is $55,375,000.