Summary
BB&T Corporation (now Truist Financial Corp) announced on December 8, 2014, the successful issuance and sale of $1.5 billion in aggregate principal amount of senior notes. This offering consisted of $1.3 billion of 2.450% Fixed Rate Notes due January 15, 2020, and $200 million of Floating Rate Notes also due January 15, 2020. This issuance was made under a previously filed registration statement on Form S-3, indicating that the company was leveraging established shelf registrations for capital raising. The filing also includes legal opinions from O’Melveny & Myers LLP and BB&T's internal General Counsel, confirming the validity of the issued notes. For investors, this action signals proactive capital management and a commitment to maintaining liquidity and financial flexibility.
Key Highlights
- 1Issuance of $1.5 billion in aggregate principal amount of senior notes.
- 2The offering included $1.3 billion in fixed-rate notes with a 2.450% coupon due January 15, 2020.
- 3The offering also included $200 million in floating-rate notes due January 15, 2020.
- 4Notes were issued under a Form S-3 registration statement (File No. 333-197375).
- 5Legal opinions from external counsel (O’Melveny & Myers LLP) and internal counsel were filed, confirming note validity.
- 6The filing was made by BB&T Corporation, which later became Truist Financial Corp.