Summary
This 8-K filing from BB&T Corporation (now Truist Financial Corp) on June 30, 2017, primarily details the update and establishment of its Medium-Term Note Program. The company has established two new series of notes: Series G (Senior) and Series H (Subordinated). These notes will be issued under existing indentures and were registered with the SEC via a Form S-3 filing on the same day. This action indicates the company's intent to access capital markets for funding through the issuance of debt securities. Investors should note that this filing is focused on the mechanics of debt issuance rather than financial performance or strategic operational changes. The company has also entered into a Distribution Agreement with Morgan Stanley & Co. LLC and other agents to facilitate the sale of these Medium-Term Notes. The filing provides extensive details on the associated legal documentation, including specimen forms of the notes, and the specific indentures governing their issuance. This update to the Medium-Term Note Program allows BB&T to efficiently raise funds as needed by offering a variety of senior and subordinated debt instruments.
Key Highlights
- 1BB&T Corporation updated its Medium-Term Note Program on June 30, 2017.
- 2The program now includes the issuance of Series G (Senior) and Series H (Subordinated) Medium-Term Notes.
- 3These new note series are established under existing senior and subordinated indentures, respectively.
- 4A Distribution Agreement was entered into with Morgan Stanley & Co. LLC and other agents for the sale of these notes.
- 5The Medium-Term Notes have been registered under the Securities Act of 1933 via a Form S-3 filing.
- 6The filing includes various exhibits detailing the agreements and specimen forms of the notes.