Citizens Financial Group Announces Redemption of $4.35% Subordinated Notes July 3

Athene Holding Ltd. announced it will redeem all 24 million outstanding shares of its 6.375% Fixed-Rate Reset Perpetual Non-Cumulative Preferred Stock, Series C, on June 30, 2025, at a redemption price of $25 per Depositary Share. Separately, Citizens Financial Group revealed plans to redeem its 4.35% fixed-rate subordinated notes due August 2025 on July 3, paying holders 100% of the principal amount plus accrued interest. This financial maneuver by Citizens Financial Group contributed to a 7% rise in its stock price last month, supported by positive market conditions and the appointment of Brendan Coughlin as President. Analysts hold an average 'Outperform' rating on Citizens Financial Group with price targets suggesting potential upside, reflecting confidence in the company's strategic initiatives including private banking growth and a recent $1.9 billion student loan sale. Citizens Financial Group manages $220.1 billion in assets and has communicated that payments for note redemptions will be processed through The Depository Trust Company. Both companies are taking steps to retire debt instruments, signaling strategic financial management ahead of maturity dates.