KeyCorp assumes First Niagara’s senior notes, subordinated notes

By Marisa Wong

Morgantown, W.Va., Aug. 1 – KeyCorp has assumed First Niagara Financial Group, Inc.’s obligations with respect to its outstanding 6.75% senior notes due 2020 and 7.25% subordinated notes due 2021 in connection with KeyCorp’s acquisition of First Niagara, according to an 8-K filing with the Securities and Exchange Commission.

The companies entered into supplemental indentures to the notes on Monday.

Bank of New York Mellon is the trustee for the 6.75% senior notes, and U.S. Bank NA is the trustee for the 7.25% subordinated notes.

First Niagara is a financial services company based in Buffalo, N.Y. KeyCorp is a financial services company based in Cleveland.

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