Companies Repaying TARP Funds
June 09 2009 - 2:51PM
Dow Jones News
Company: American Express Co. (AXP)
Amount Being Repaid: $3.39 billion
Notes: The company sees a one-time 18c/share charge for the quarter in which the repurchase is made. American Express expects the repurchase to be slightly accretive to EPS in subseqent quarters.
Company: Bank Of New York Mellon Corp. (BK)
Amount Being Repaid: $3 billion
Notes: The company has raised $2.9 billion toward the $3 billion repurchase through debt offerings and a public common stock sale.
Company: BB&T Corp. (BBT)
Amount Being Repaid: $3.134 billion
Notes: The company sees a $48 million charge in 2Q on amortized costs. BB&T also plans to repurchase a related warrant.
Company: Capital One Financial Corp. (COF)
Amount Being Repaid: $3.55 billion
Notes: n/a
Company: Goldman Sachs (GS)
Amount Being Repaid: 10 million shares
Notes: n/a
Company: JP Morgan (JPM)
Amount Being Repaid: $25 billion
Notes: The company will begin repayment on Tuesday.
Company: Morgan Stanley (MS)
Amount Being Repaid: $10 billion
Notes: n/a
Company: Northern Trust Corp. (NTRS)
Amount Being Repaid: $1.567 billion
Notes: The company plans to give the Treasury notice of its intention to buy a related warrant in accordance with standardized terms of the preferred share issuance agreement.
Company: State Street Corp.(STT)
Amount Being Repaid: $2 billion; 20,000 shares
Notes: The company will initiate talks with Treasury for the repurchase of the common stock purchase warrant. The warrant represents an interest to buy 2,788,104 shares.
Company: U.S. Bancorp (USB)
Amount Being Repaid: $6.6 billion
Notes: The company plans to buy back the 10-year warrant issued to the Treasury. U.S. Bancorp sees a pretax charge of $125 million in 2Q, and sees 2Q EPS hurt by 15c due to the TARP redemption.