Charles Schwab Corporation (NYSE:SCHW) on Wednesday announced the issuance of $2.25 billion in aggregate principal amount of fixed-to-floating rate senior notes. The $157 billion market cap financial services giant continues strengthening its balance sheet, with total debt now at approximately $59.5 billion.
The offering includes $1 billion of 4.744% fixed-to-floating rate senior notes due 2030 and $1.25 billion of 5.493% fixed-to-floating rate senior notes due 2037. After deducting underwriting discounts and expenses, Schwab reported net proceeds of about $2.236 billion.
The notes were issued under the company's senior indenture dated November 14, 2025, as supplemented. The offering was conducted pursuant to a prospectus supplement dated May 18, 2026, and an accompanying prospectus dated December 1, 2023.
Schwab entered into an underwriting agreement on May 18, 2026, with BofA Securities, Citigroup Global Markets, Goldman Sachs, J.P. Morgan Securities, and Wells Fargo Securities as underwriters.
This article is based on a press release and SEC filing.
