8-KOther EventsExhibits & Filings

TRUIST FINANCIAL CORP 8-K Report, Corporate Update (Jun 5, 2018)

Filed June 5, 2018For Securities:TFCTFC-POTFC-PRTFC-PI

Summary

This 8-K filing from TRUIST FINANCIAL CORP (then BB&T Corporation) on June 5, 2018, details the issuance and sale of $1.5 billion in aggregate principal amount of Senior Notes. The issuance comprised $500 million of 3.200% Medium-Term Notes, Series G, due September 3, 2021 (Three-Year Fixed Rate Notes) and $1 billion of 3.700% Medium-Term Notes, Series G, due June 5, 2025. These notes were registered under the Securities Act of 1933, indicating a public offering. The primary purpose of this filing is to provide transparency regarding the company's capital raising activities. Investors should note that this was a debt issuance, meaning the company borrowed funds at specified interest rates for specified maturities. The filing also includes legal opinions from Squire Patton Boggs (US) LLP and the company's General Counsel regarding the validity of these notes, which are standard disclosures for such transactions.

Key Highlights

  • 1BB&T Corporation (now Truist Financial Corp) issued $1.5 billion in Senior Notes.
  • 2The issuance includes two tranches: $500 million in 3.200% notes due 2021 and $1 billion in 3.700% notes due 2025.
  • 3The notes are designated as Series G Medium-Term Notes.
  • 4The issuance was registered under the Securities Act of 1933, confirming a public offering.
  • 5The filing includes legal opinions concerning the validity of the issued Senior Notes.
  • 6This debt issuance is a method for the company to secure funding.

Frequently Asked Questions

BB&T Corporation issued a total of $1.5 billion in aggregate principal amount of Senior Notes.

The Senior Notes consist of $500 million of 3.200% Medium-Term Notes due September 3, 2021, and $1 billion of 3.700% Medium-Term Notes due June 5, 2025.

This filing is an 8-K, which is used to report material events. The issuance of these Senior Notes is a capital-raising activity, likely to fund operations, investments, or general corporate purposes, as is common for such debt offerings.

The filing includes legal opinions from Squire Patton Boggs (US) LLP and Robert J. Johnson, Jr., Senior Executive Vice President, General Counsel, Secretary and Chief Corporate Governance Officer of the Company, confirming the validity of the Senior Notes. Consents from these parties are also included.