2023-05-18 08:55:11 ET
Charles Schwab ( NYSE: SCHW ) said it's seeking to raise up to $2.5B through a two-part senior notes offering, according to a recent SEC filing.
The move comes shortly after the brokerage giant disclosed that the net proceeds of the debt offering would be used for "general corporate purposes, including, without limitation, investments in our subsidiaries and supporting business growth."
In the latest Thursday filing, Schwab ( SCHW ) said it's offering $1.3B of 5.853% fixed-to-floating rate senior notes due 2034, and $1.2B of 5.643% fixed-to-floating rate senior notes due 2029.
The yield-to-maturity of SCHW's 2034 and 2029 notes would be 227 basis point and 205 basis points above benchmark Treasury notes, respectively.
SCHW inched down 0.5% in premarket trading.
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Charles Schwab to raise up to $2.5B in senior debt offering