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BNY Mellon wraps any-and-all tender offer for three notes
By Marisa Wong
Los Angeles, Sept. 14 – BNY Mellon Capital Markets, LLC announced it settled its Sept. 5 any-and-all cash tender offer for three series J senior medium-term notes issued by Bank of New York Mellon Corp., according to a press release.
BNY Capital Markets confirmed it purchased all of the following tendered securities, including securities tendered by guaranteed delivery procedures:
• $157,785,000 of the $750 million outstanding 0.35% notes due Dec. 7, 2023 with a first par call date on Nov. 7, 2023 (Cusip: 06406RAP2) for a total consideration of $987.95, which is based on the 0.5% U.S. Treasury due Nov. 30, 2023 and a fixed spread of zero basis points;
• $490,514,000 of the $950 million outstanding 3.35% notes due April 25, 2025 with a first par call date on March 25, 2025 (Cusip: 06406RBC0) for a total consideration of $969.64, based on the 2.625% U.S. Treasury due April 15, 2025 and a fixed spread of 15 bps; and
• $337,312,000 of the $700 million outstanding 3.43% notes due June 13, 2025 with a first par call date on June 13, 2024 (Cusip: 06406RBF3) for a total consideration of $983.96, based on the 2.5% U.S. Treasury due May 31, 2024 and a fixed spread of 15 bps.
The total considerations listed are per $1,000 principal amount of securities. Holders also received accrued interest.
Pricing was determined at 10 a.m. ET on Sept. 11.
The offer expired at 5 p.m. ET on Sept. 11. The guaranteed delivery deadline was 5 p.m. ET on Sept. 13.
Settlement was on Sept. 14.
Financing for the tender offer is coming from cash on hand, as previously reported.
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.
The tender agent and information agent for the offer is D.F. King & Co., Inc. (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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