The Bank of New York Mellon (NYSE:BK) Corporation, currently valued at $61.35 billion by market capitalization, has issued $1.25 billion in senior notes, the company disclosed in a regulatory filing on Tuesday. The notes, carrying a 4.942% fixed rate that transitions to a floating rate, are due in 2031. According to InvestingPro data, the company is trading near its 52-week high of $87.70, reflecting strong market confidence.
This issuance is a part of the company’s medium-term notes program and was registered under the Securities Act of 1933. The legal opinion and consent for the issuance were provided by Sullivan & Cromwell LLP, and are included in the exhibits filed with the report.
The Bank of New York Mellon Corporation, a financial services company, completed the offering under its existing shelf registration statement. The notes, referred to as the "4.942% Fixed Rate / Floating Rate Callable Senior Medium-Term Notes Series J," are callable, which means the issuer has the right to pay off the debt before the maturity date.
The company’s filing with the Securities and Exchange Commission (SEC) on February 11, 2025, also includes the cover page interactive data file, which contains the XBRL tags embedded within the Inline XBRL document.
This financial move adds to the company’s capital structure and provides funds that could be used for various corporate purposes. The notes were listed on the New York Stock Exchange under the ticker symbol BK/P. The company has demonstrated strong financial discipline, maintaining dividend payments for 55 consecutive years with a current yield of 2.21%.
Investors may consider the new issuance as part of their investment decisions in the financial sector. With a P/E ratio of 14.6 and an impressive one-year return of 58.11%, the company shows promising fundamentals. For deeper insights into BK’s valuation and growth potential, InvestingPro subscribers can access 12 additional key insights and a comprehensive Pro Research Report, part of the platform’s coverage of over 1,400 US stocks. The Bank of New York Mellon Corporation is incorporated in Delaware and has its principal executive offices in New York, New York.
The information in this article is based on the SEC filing by The Bank of New York Mellon Corporation.
In other recent news, Compañía de Minas Buenaventura S.A.A. has secured $650 million in senior unsecured notes due in 2032, with the intention to refinance existing senior notes due in 2026 and for general corporate purposes. This move is expected to enhance Buenaventura’s credit standing and extend its debt maturities. The notes are guaranteed by Inversiones Colquijirca S.A., Procesadora Industrial Río Seco S.A., and Consorcio Energético Huancavelica S.A.
Meanwhile, Bank of New York Mellon (BNY Mellon) has been the focus of recent analyst attention. Keefe, Bruyette & Woods maintained an Outperform rating on the company’s stock, following a strong quarterly performance driven by growth in net interest income and diligent cost control. CFRA analyst Kenneth Leon also raised the price target for BNY Mellon shares, reflecting a positive outlook based on the company’s performance and future earnings projections.
BNY Mellon also reported fourth quarter earnings that exceeded analyst expectations, with an adjusted earnings per share of $1.54 and revenue of $4.85 billion. The bank reported $52.1 trillion in assets under custody and/or administration and $2.0 trillion in assets under management as of December 31, 2024. These recent developments reflect a positive trajectory for both Buenaventura and BNY Mellon.
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