Charles Schwab gets needed consents for 6.375% senior notes due 2017

By Jennifer Chiou

New York, Dec. 29 - Charles Schwab Corp. said it obtained consents from holders of a majority of its 6.375% senior notes due 2017.

The consent solicitation expired at 5 p.m. ET on Dec. 28.

The company received enough consents to terminate the replacement capital covenant granted by Schwab to noteholders in October 2007 in connection with the company's issue of fixed-to-floating-rate junior subordinated notes due 2067 and the corresponding fixed-to-floating-rate trust preferred securities.

Schwab will pay a $5.00 consent fee for each $1,000 of notes to holders to consent.

Citi (800 558-3745 or 212 723-6106) was the solicitation agent. Global Bondholder Services Corp. (866 795-2200) was the information and tabulation agent.

The brokerage and financial services company is based in San Francisco.

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