What is the purpose of updating the Medium-Term Note Program?

The purpose of updating the Medium-Term Note Program is to allow BB&T Corporation (now Truist Financial Corp) to issue new series of senior and subordinated debt notes (Series E and Series F) to raise capital. This is a standard financing activity for large corporations to manage their liquidity and fund operations or growth.

What types of notes can be issued under this program?

Under the updated program, BB&T Corporation can issue Medium-Term Notes, Series E (Senior) and Medium-Term Notes, Series F (Subordinated). These notes can be structured in various forms, including fixed rate, floating rate, zero coupon, and OID (Original Issue Discount) notes.

Who is responsible for selling these notes?

The sale of these notes will be managed through a Distribution Agreement entered into on August 4, 2014. The agents include BB&T Capital Markets (a division of BB&T Securities, LLC), Deutsche Bank Securities Inc., and other agents listed in the agreement.

Has this debt issuance been registered with regulatory bodies?

Yes, the notes to be issued under this updated Medium-Term Note Program have been registered under the Securities Act of 1933, as amended, via a registration statement on Form S-3 filed with the SEC on July 11, 2014 (File No. 333-197375).

TRUIST FINANCIAL CORP 8-K SEC Disclosure

Summary

This 8-K filing by BB&T Corporation (the registrant at the time, now Truist Financial Corp) on August 4, 2014, primarily announces an update to its Medium-Term Note (MTN) Program. The program allows for the issuance of Senior Notes (Series E) and Subordinated Notes (Series F) to raise capital. This update details the establishment of these note series under specific indentures and their registration under the Securities Act of 1933. The company also entered into a Distribution Agreement with several agents, including BB&T Capital Markets, to facilitate the sale of these notes.

Key Highlights

1BB&T Corporation updated its Medium-Term Note Program to include Series E (Senior) and Series F (Subordinated) Notes.
2The updated program allows the company to issue these notes under existing senior and subordinated indentures.
3The Notes issued under this program have been registered with the SEC via a Form S-3 registration statement filed on July 11, 2014.
4A Distribution Agreement was executed on August 4, 2014, with BB&T Capital Markets and other agents to manage the sale of these notes.
5This filing details the establishment of the note series through Officers' Certificates and Company Orders.
6The filing provides a list of various exhibits related to the Distribution Agreement and the specifics of the Series E and Series F Notes, including forms of global notes.

TRUIST FINANCIAL CORP 8-K Report, Corporate Update (Aug 5, 2014)

Summary

Key Highlights

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