M&T Bank Corporation completed a $600 million underwritten public offering of its Perpetual 6.625% Non-Cumulative Preferred Stock, Series L. Depositary Shares, each representing a 1/400th ownership interest in a share of the preferred stock are listed on the NYSE under the symbol “MTBPrL.”
M&T, headquartered in Buffalo, New York, is a financial holding company with approximately $219.3 billion in total assets at June 30, 2026.
BofA Securities, J.P. Morgan Securities, M&T Securities, Morgan Stanley & Co., Raymond James & Associates, UBS Securities and Wells Fargo Securities acted as joint bookrunners for the offering.
The S&C team representing the underwriters included Ben Weiner, Mark Menting, Ben Rump and Andrea González Morales. Jeff Hochberg and Julia Fleurantin advised on tax matters. Kseniia Samokhina and trainee solicitor Trinity Batt advised on UK matters.