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MetLife enters agreement related to sale of depositary shares

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MetLife enters agreement related to sale of depositary shares

MetLife Inc. on Jan. 15 entered a deposit agreement with Computershare Inc. and subsidiary Computershare Trust Co. NA.

The agreement is related to the sale of 40,000,000 depositary shares, each representing a 0.001 interest in one of its 4.75% noncumulative preferred shares, series F, issued with a liquidation preference of $25,000.

MetLife will provide Computershare and its unit between 35 and 65 days notice before redeeming its shares, as well as the redemption price of the stock to be redeemed.

Willkie Farr & Gallagher LLP acted as special counsel to MetLife.