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State Street Bank and Trust to redeem debentures


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State Street Bank and Trust to redeem debentures

State Street Bank and Trust Co. launched a tender offer for all $800.0 million of State Street Corp.'s floating-rate junior subordinated debentures due 2047.

State Street is also offering to redeem $50.1 million of $150.0 million of its floating-rate junior subordinated deferrable interest debentures due 2028.

The tender offers expire Nov. 20.

Holders of debentures due 2047 that tender their holdings by 5:00 p.m. ET on Nov. 1 are entitled to extra payments upon redemption.

Deutsche Bank Securities Inc. and J.P. Morgan Securities LLC are dealer managers of the tender offer. D.F. King & Co. is the information agent and tender agent.