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BNY Mellon starts brief any-and-all tender offer for three securities
Chicago, Sept. 5 – BNY Mellon Capital Markets, LLC started an any-and-all cash tender offer for three securities issued by Bank of New York Mellon Corp., according to a press release and a tender offer document.
The offer covers the following series J senior medium-term notes with their pricing basis:
• $750 million outstanding 0.35% notes due Dec. 7, 2023 with a first par call date on Nov. 7, 2023 (Cusip: 06406RAP2) with pricing based on the 0.5% U.S. Treasury due Nov. 30, 2023 and a flat (zero) fixed spread;
• $950 million outstanding 3.35% notes due April 25, 2025 with a first par call date on March 25, 2025 (Cusip: 06406RBC0) with pricing to be based on the 2.625% U.S. Treasury due April 15, 2025 and a 15 basis points spread; and
• $700 million outstanding 3.43% notes due June 13, 2025 with a first par call date on June 13, 2024 (Cusip: 06406RBF3) with pricing to be based on the 2.5% U.S. Treasury due May 31, 2024 and a 15 bps spread.
Accrued interest to the settlement date will also be paid.
The offer started Sept. 5.
Pricing will be determined at 10 a.m. ET on Sept. 11.
The offer expires at 5 p.m. ET on Sept. 11.
There are guaranteed delivery procedures. Copies of the notice of guaranteed delivery are available at www.dfking.com/bnymellon. The guaranteed delivery deadline is 5 p.m. ET on Sept. 13.
Settlement is planned for Sept. 14.
Financing for the tender offer is coming from cash on hand.
Citigroup Global Markets Inc. (212 723-6106, 800 558-3745, ny.liabilitymanagement@citi.com) and Goldman Sachs & Co. LLC (212 357-1452, 800 828-3182) are the joint dealer managers.
D.F. King & Co., Inc. is the tender agent and information agent for the offer (800 814-2879, 212 269-5550, bnymellon@dfking.com).
Bank of New York Mellon is a financial products and services company based in New York.
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