Truist to Redeem $1.25B May 2027 Senior Notes at Par
Truist will redeem all $1.25B of its fixed-to-floating rate senior notes due May 20, 2027, on May 20, 2026 at 100% of principal plus accrued interest. Interest on these notes will cease accruing on the redemption date, reducing the company’s future interest expense.
1. Redemption Announcement
Truist will redeem all $1.25B principal amount of its fixed-to-floating rate senior notes due May 20, 2027 on May 20, 2026. The redemption price equals 100% of principal plus accrued and unpaid interest up to, but excluding, the redemption date.
2. Note Terms
The fixed-to-floating rate notes (CUSIP 89788JAE9) transition from a fixed coupon to a floating rate and will be settled through The Depository Trust Company. Interest on the notes will cease to accrue on the redemption date, simplifying the bank’s liabilities.
3. Financial Implications
This redemption eliminates $1.25B of maturing debt and reduces future interest obligations, improving net interest margin. The transaction is expected to be funded from existing liquidity, supported by Truist’s $549B asset base as of March 31, 2026.