BNY Mellon gives results of any-and-all tender offer for three notes

By Mary-Katherine Stinson

Lexington, Ky., Sept. 12 – BNY Mellon Capital Markets, LLC announced the results of its any-and-all cash tender offer for three securities issued by Bank of New York Mellon Corp., according to a press release.

BNY Capital Markets expects to accept all securities tendered as well as any additional securities tendered by guaranteed delivery procedures.

As of the expiration of the offer at 5 p.m. ET on Sept. 11, the following securities were tendered, listed with the total considerations per $1,000 principal amount of the series J senior medium-term notes covered by the offer:

• $157,779,000 of the $750 million outstanding 0.35% notes due Dec. 7, 2023 with a first par call date on Nov. 7, 2023 (Cusip: 06406RAP2) tendered with $6,000 subject to guaranteed delivery procedures for a total consideration of $987.95, which is based on the 0.5% U.S. Treasury due Nov. 30, 2023 and a flat (zero) fixed spread;

• $490,514,000 of the $950 million outstanding 3.35% notes due April 25, 2025 with a first par call date on March 25, 2025 (Cusip: 06406RBC0) tendered with $1,121,000 subject to guaranteed delivery procedures for a total consideration of $969.64 based on the 2.625% U.S. Treasury due April 15, 2025 and a 15 basis points spread; and

• $337,312,000 of the $700 million outstanding 3.43% notes due June 13, 2025 with a first par call date on June 13, 2024 (Cusip: 06406RBF3) tendered for a total consideration of $983.96, based on the 2.5% U.S. Treasury due May 31, 2024 and a 15 bps spread.

No notes were tendered subject to guaranteed delivery procedures for the 3.43% notes due June 13, 2025.

Accrued interest to the settlement date will also be paid.

The offer started Sept. 5.

Pricing was determined at 10 a.m. ET on Sept. 11.

Copies of the notice of guaranteed delivery are available at www.dfking.com/bnymellon. The guaranteed delivery deadline is 5 p.m. ET on Sept. 13.

Settlement is planned for Sept. 14.

Financing for the tender offer is coming from cash on hand.

Citigroup Global Markets Inc. (212 723-6106, 800 558-3745, ny.liabilitymanagement@citi.com) and Goldman Sachs & Co. LLC (212 357-1452, 800 828-3182) are the joint dealer managers.

The tender agent and information agent for the offer is D.F. King & Co., Inc. (800 814-2879, 212 269-5550, bnymellon@dfking.com).

Bank of New York Mellon is a financial products and services company based in New York.

© 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.