State Street intends to price fixed-to-floaters in two tranches

By Devika Patel

Knoxville, Tenn., Nov. 28 – State Street Corp. intends to price a two-tranche offering of fixed-to-floating rate notes, according to a 424B5 filed with the Securities and Exchange Commission.

The notes are due in 2024 and 2029.

Interest will accrue at a fixed rate initially and then at a rate based on Libor.

The notes are callable at par plus interest.

BofA Merrill Lynch, Citigroup Global Markets Inc., Deutsche Bank Securities Inc. and J.P. Morgan Securities LLC are the bookrunners.

The company plans to use the proceeds for general corporate purposes.

State Street is a Boston-based financial holding company.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.