The Bank of New York Mellon Corporation announced that its wholly-owned subsidiary, The Bank of New York Mellon, will redeem all of its issued and outstanding Floating Rate Callable Senior Bank Notes due March 13, 2026. The aggregate principal amount of these notes is $500,000,000.
The redemption date for these notes is set for March 13, 2025. The redemption price will be 100% of the principal amount, plus any accrued and unpaid interest up to, but excluding, the redemption date. On and after the redemption date, the notes will no longer be deemed outstanding, and interest will cease to accrue.
This debt redemption is part of BNY Mellon's ongoing efforts to manage its balance sheet and optimize its funding structure. By retiring these notes, the company can potentially reduce its interest expense and enhance its financial flexibility.
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