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 5.224% Fixed Rate / Floating Rate Callable Senior Bank Notes due November 21, 2025. The aggregate principal amount of these notes is $750,000,000.
The redemption date for these notes is set for November 21, 2024. The redemption price will be 100% of the principal amount, plus any accrued and unpaid interest up to, but excluding, the redemption date. After this date, the notes will no longer be considered outstanding, and interest will cease to accrue.
This debt redemption reflects BNY Mellon's ongoing balance sheet management strategies. By retiring these senior notes, the company is optimizing its financial structure, which can lead to improved capital efficiency and potentially lower future financing costs.
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