The company said it completed the offering of $750 million aggregate principal amount of 6.645% Fixed/Floating Rate Senior Notes due 2035 on April 25, 2024.

8-KOther EventsFiled Apr 25, 2024Period of report Apr 25, 2024Summary published (UTC) Oct 29, 2026

Key points

AI summary

The company said it completed the offering of $750 million aggregate principal amount of 6.645% Fixed/Floating Rate Senior Notes due 2035 on April 25, 2024.
The company said the Notes will bear a fixed interest rate of 6.645% per annum from and including April 25, 2024 to but excluding April 25, 2034, and thereafter a rate equal to SOFR plus 2.325% until April 25, 2035.
The company said it plans to use the net proceeds for general corporate purposes, which may include securities repurchase programs, dividend payments, repayment of long-term and short-term debt and preferred equity securities, and other purposes. It said it has not identified the amounts it will spend on any specific purpose.
The company said it entered into an Underwriting Agreement on April 18, 2024 with Citigroup Global Markets Inc. and 5 other lead underwriters, and issued the Notes under the Eighth Supplemental Indenture with The Bank of New York Mellon as Trustee.

Summary

AI-written

Analysis scope · Filing bodyWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

$750 million Senior Notes Offering Completed

The company said it completed the offering of $750 million aggregate principal amount of 6.645% Fixed/Floating Rate Senior Notes due 2035 on April 25, 2024.

Source · Based on the filing body and exhibits

Fixed Rate for 10 Years, Then SOFR-Based

The company said the Notes will bear a fixed interest rate of 6.645% per annum from and including April 25, 2024 to but excluding April 25, 2034, and thereafter a rate equal to SOFR plus 2.325% until April 25, 2035.

Source · Based on the filing body and exhibits

Use of Net Proceeds

The company said it plans to use the net proceeds for general corporate purposes, which may include securities repurchase programs, dividend payments, repayment of long-term and short-term debt and preferred equity securities, and other purposes. It said it has not identified the amounts it will spend on any specific purpose.

Source · Based on the filing body and exhibits

Underwriting Agreement and Indenture Structure

The company said it entered into an Underwriting Agreement on April 18, 2024 with Citigroup Global Markets Inc. and 5 other lead underwriters, and issued the Notes under the Eighth Supplemental Indenture with The Bank of New York Mellon as Trustee.

Source · Based on the filing body and exhibits

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

View the original filing on SEC EDGAR ↗

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