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State Street to redeem all 2.653% fixed-to-floaters due 2023 on May 15
By Mary-Katherine Stinson
Lexington, Ky., April 14 – State Street Corp. plans to redeem all its $750 million 2.653% fixed-to-floating rate senior notes due 2023 on May 15, according to an 8-K filed with the Securities and Exchange Commission.
The notes will be redeemed at par plus accrued interest to, but excluding, the redemption date.
The company stated that since the redemption date is not a business day it will be paid on the next business day.
The redemption will be funded using cash on hand.
State Street is a Boston-based bank holding company.
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