The Bank of New York Mellon Corporation announced a proposed offering of USD1 billion of its common stock to the public. Goldman, Sachs & Co. and Morgan Stanley & Co. Incorporated will serve as joint bookrunning managers for the offering.
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.
Subject to consultation with the company’s banking regulators, the company intends to formally notify the U.S. 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 has filed a shelf registration statement with the Securities and Exchange Commission (SEC) and will file a prospectus supplement related to this offering.
L.D.