BB&T Corp. is offering $1.10 billion in 2.200% senior notes due March 16, 2023.
Interest payments will be made March 16 and Sept. 16 of each year, with the first payment to be made March 16, 2020.
The company has the option to redeem the notes in whole or in part at 100% of the principal amount of the notes, plus accrued and unpaid interest, on or after Feb. 13, 2023.
The proceeds will be used for general corporate purposes, which include the acquisition of other companies, repurchasing outstanding shares of common stock, repayment of debt and funding investments in subsidiaries.
BB&T Capital Markets, BofA Securities Inc, RBC Capital Markets LLC and SunTrust Robinson Humphrey Inc. are joint book-running managers of the offering. Academy Securities Inc., Samuel A. Ramirez & Company Inc. and UBS Securities LLC are the co-managers.
