Goldman Sachs and Morgan Stanley will serve as joint bookrunning managers for the offering
The Bank of New York Mellon Corporation, a provider asset management services and securities servicing, has announced an offering of $1.2 billion of its common stock to the public.
The company has priced the $1.2 billion offering of 42 million shares of its common stock at $28.75 per share. The underwriters will have a 30-day option to purchase up to an additional 15% of the offered amount of the company’s common stock.
According to the company, Barclays Capital, BNY Mellon Capital Markets, Citigroup Global Markets, Merrill Lynch and UBS Securities are acting as co-managers for the offering.
Furthermore it said that the announcement does not constitute an offer to sell or the solicitation of any offer to buy the common stock, nor shall there be any offer or sale of the common stock in any jurisdiction in which such offer, solicitation or sale would be unlawful.
Subject to consultation with the company’s banking regulators, the company intends to formally notify the US Department of Treasury of its intent to repurchase its preferred stock and the warrant for its common stock held by the Treasury under the Troubled Asset Relief Program-Capital Purchase Program. The company may use part of the proceeds of this offering to fund any such repurchase or for general corporate purposes.
The Bank of New York Mellon Corporation is a global financial services company focused on helping clients manage and service their financial assets, operating in 34 countries and serving more than 100 markets. The company is a
leading provider of financial services for institutions, corporations and high-net-worth individuals, providing superior asset management and wealth management, asset servicing, issuer services, clearing services and treasury services through a worldwide client-focused team.