Citizens Financial Group, Inc. announced the redemption of all its outstanding 4.35% Fixed-Rate Subordinated Notes due August 1, 2025. The redemption date is set for July 3, 2025.
The redemption price for these notes 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 deemed outstanding, and interest will cease to accrue.
This proactive debt management move is expected to optimize Citizens' capital structure and reduce future interest expenses. It reflects the company's ongoing efforts to manage its balance sheet efficiently and enhance financial flexibility.
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