NEW YORK - MetLife, Inc. (NYSE: NYSE:MET), a global provider of insurance and financial services, announced today its decision to redeem all of its outstanding 5.375% Senior Notes due on December 9, 2024. The company will proceed with the redemption on April 11, 2024, addressing the full £350 million outstanding principal amount of the Notes.
The redemption price will be determined by the appointed calculation agent and is set to match the yield on the outstanding principal amount of the Notes as of March 11, 2024. This yield will correspond to the yield on the 5% U.K. government Treasury Stock due March 7, 2025, plus accrued and unpaid interest up to but not including the Redemption Date. Following April 11, interest on the Notes will no longer accrue.
Holders of the Notes, which are currently managed through the systems of Clearstream Banking, S.A. and Euroclear Bank SA/NV, will receive payment in accordance with the procedures of these institutions. The Bank of New York Mellon (NYSE:BK) has been designated as the London Paying Agent to facilitate the redemption process.
MetLife, founded in 1868, operates across more than 40 global markets and is recognized for its leadership in the United States, Japan, Latin America, Asia, Europe, and the Middle East. The company's decision to redeem these Senior Notes is a financial maneuver within its broader strategy of financial management.
The company has issued a reminder that forward-looking statements involve risks and uncertainties and that actual results could differ from those projected. MetLife does not commit to publicly updating any forward-looking statements.
This financial move is based on a press release statement from MetLife, Inc. and is a strategic action within the company's financial operations.
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