The Bank of New York Mellon Corporation announced a proposed public offering of new Series M Noncumulative Perpetual Preferred Stock to be used for general corporate purposes. If the offering is priced, the company intends to use the proceeds to potentially redeem its Series F and Series H preferred stock, which carry a $100,000 liquidation preference per share. This move is a strategic effort to manage preferred equity maturities and potentially optimize the company's capital structure.
