M&T Bank offers fixed-to-floating notes via four bookrunners

By Marisa Wong

Los Angeles, Jan. 24 – M&T Bank Corp. plans to price fixed-rate/floating-rate senior notes, according to a 424B5 filing with the Securities and Exchange Commission.

The notes will bear interest at a fixed rate initially. During the floating-rate period, the coupon will be based on SOFR.

The notes will feature a make-whole call, followed by a par call.

BofA Securities, Inc., Barclays, Morgan Stanley & Co. LLC and M&T Securities, Inc. are the joint bookrunners.

Bank of New York Mellon is the trustee.

Sullivan & Cromwell LLP will act as counsel for the issuer, and Sidley Austin LLP will act as counsel for the underwriters.

Proceeds will be used for general corporate and banking purposes.

The financial holding company is based in Buffalo, N.Y.

© 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.