Truist Financial issues $1.25 billion in senior notes due 2036

Truist Financial Corp. (NYSE:TFC), a major financial institution with a market capitalization of $55.8 billion and a strong dividend track record spanning 53 consecutive years, announced Thursday that it has issued and sold $1.25 billion in aggregate principal amount of its 4.964% fixed-to-floating rate medium-term notes, Series I (Senior), due October 23, 2036. According to InvestingPro analysis, the company appears undervalued based on its Fair Value metrics. The notes were registered under the Securities Act of 1933 through a registration statement on Form S-3 filed with the Securities and Exchange Commission.

In a concurrent transaction, Truist Bank, the company’s bank subsidiary, issued and sold $1.25 billion of its 4.136% fixed-to-floating rate senior bank notes, Series I (Senior), due October 23, 2029.

The company also filed the legal opinion of Mayer Brown LLP related to the issuance and sale of the notes as an exhibit with the SEC.

This information is based on a press release statement included in a filing with the Securities and Exchange Commission.

In other recent news, Truist Financial Corporation reported its third-quarter earnings for 2025, showing a net income of $1.3 billion or $1.04 per share. The company missed the expected earnings per share (EPS) forecast of $0.99, resulting in an EPS surprise of -8.08%. Despite this, Truist’s quarterly results were marked by strong fee income and accelerating loan growth, as noted by TD Cowen, which led to an upgrade of the stock rating from Hold to Buy and a revised price target of $55.00. Additionally, Morgan Stanley raised its price target for Truist to $55.00, citing a positive growth outlook, although the bank did miss consensus estimates on net interest income due to a decline in net interest margin. Keefe, Bruyette & Woods also raised its price target to $49.00, maintaining a Market Perform rating, based on Truist’s path toward achieving a 15% Return on Tangible Common Equity by 2027. In a strategic move, Truist announced the appointment of three new leaders to enhance its Commercial and Corporate Banking franchise, focusing on the energy and technology sectors. Jeff Ard, with nearly 20 years of experience, was named Managing Director and Head of Energy and Power Corporate Banking. These developments reflect Truist’s ongoing efforts to expand its market presence and improve financial performance.

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