BNY Prepares to Redeem Floating Rate Senior Notes This Month
BNY Announces Redemption of Senior Notes
The Bank of New York Mellon Corporation (NYSE: BK), known for its global financial services, has made an important announcement regarding its Floating Rate Senior Notes. The company revealed plans to redeem all of its outstanding notes due April 25, 2025. These notes, totaling an aggregate principal amount of $400,000,000, are now on the radar of investors.
Details on the Redemption Process
The redemption date for the notes is set for March 25, 2025. On this date, bondholders will receive the principal amount of their investments plus any accrued interest that has not been paid up until the redemption date. This redemption price guarantees that investors will be compensated fairly for their holdings.
Following the redemption date, the notes will no longer be recognized as outstanding, which means that interest will cease to accumulate on these securities. For many investors, this will represent a significant shift in their financial planning.
Payment Process for Investors
Payment of the redemption price will be facilitated through the services of The Depository Trust Company. This streamlined process is designed to ensure a smooth transaction for all bondholders, demonstrating BNY's commitment to providing efficient financial services.
About The Bank of New York Mellon Corporation
With a legacy spanning over two centuries, BNY is dedicated to transforming how money works for clients worldwide. Managing assets, moving funds, and maintaining security is their forte. Today, the company is a trusted partner to over 90% of Fortune 100 companies and almost all the top 100 banks globally. BNY not only assists governments in funding vital projects but also collaborates with leading pension plans to secure investments for millions of people.
As of late last year, BNY oversaw a staggering $52.1 trillion in assets under custody or administration, alongside $2.0 trillion in assets under management. This positions them as a titan in the financial services sector.
Corporate Identity and Recognition
BNY operates under The Bank of New York Mellon Corporation and has its headquarters in New York City. It employs a robust workforce of over 50,000 individuals. The company has earned accolades from various sources, being named among Fortune's World's Most Admired Companies and Fast Company's Best Workplaces for Innovators, which highlights its commitment to excellence in service and innovation.
Contacting BNY for More Information
For inquiries or additional details, stakeholders can connect with media relations. Garrett Marquis is the designated media contact and can be reached directly at +1 949 683 1503. Analysts seeking insights about BNY's operations may contact Marius Merz at +1 212 298 1480. These contacts are crucial for anyone looking to dig deeper into the workings and contributions of BNY in the financial landscape.
Frequently Asked Questions
What is the redemption price for the senior notes?
The redemption price equals 100% of the principal amount plus any accrued and unpaid interest.
When is the redemption date for the notes?
The redemption date for the Floating Rate Senior Notes is March 25, 2025.
How much is BNY redeeming in total?
The total amount being redeemed is $400,000,000 in outstanding notes.
Who processes the payment for the redemption?
Payment of the redemption price will be done through The Depository Trust Company.
What does BNY do as a financial institution?
BNY provides global financial services, managing, moving, and safeguarding money for a wide array of clients, including corporations and governments.
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