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.