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Raymond James redeems remaining 2024, 2026 senior notes
By Wendy Van Sickle
Columbus, Ohio, May 5 – Raymond James Financial Inc. redeemed the remaining $151,924,000 outstanding of its 5.625% senior notes due 2024 (Cusip: 754730AD1) and $266.39 million outstanding of its 3.625% senior notes due 2026 (Cusip: 754730AE9) on Monday, according to an 8-K filing with the Securities and Exchange Commission.
The total cash paid to redeem the remaining notes was about $473 million, which included accrued interest of $2 million and a make-whole premium of $52.9 million.
The company used proceeds from its April 1 issuance of 3.75% senior notes due 2051 and cash on hand to fund the redemption.
The company repurchased $98,076 of the 2024 notes and $233.61 million of the 2026 notes under a tender offer in April, as previously reported.
Raymond James is a financial services company based in St. Petersburg, Fla.
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