Truist outlines offering of fixed-to-floaters due 2027, 2034

Chicago, June 5 – Truist Financial Corp. is planning to sell series G medium-term notes with maturities in June 2027 and June 2034, according to 424B3 filings with the Securities and Exchange Commission.

Both notes will have introductory fixed rates and then floating rates in the final year with quarterly resets.

The four-year notes will have a make-whole call option that starts after six months through a date in June 2026 when they will be redeemable at par, then a one-month par call period before maturity.

The 11-year notes will similarly have six months of call protection and then make-whole call provisions until a date in June 2033 and then a three-month par call before maturity.

Truist Securities, Inc., BofA Securities, Inc., J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC are the joint bookrunners.

U.S. Bank Trust Co., NA is the trustee.

Truist is using in-house counsel and Squire Patton Boggs (US) LLP. Sidley Austin LLP is advising the underwriters.

Proceeds will be used for general corporate purposes.

Truist is a Charlotte, N.C.-based bank 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.