Capital One Announces Successful Remarketing Of Senior Notes Due 2007.MCLEAN, Va. -- Capital One Financial Corporation (NYSE NYSE See: New York Stock Exchange :COF) announced today the successful remarketing of approximately $704.5 million aggregate principal amount of its 6.25 percent Senior Notes due 2007. As a result of the remarketing, the annual interest rate on the Senior Notes was reset to 4.738 percent, paid quarterly, effective Feb. 17, 2005. The Senior Notes were sold to investors at a price of 101.500 percent of the principal amount. The Senior Notes no longer form part of Capital One's Upper DECS DECS Department of Education, Culture and Sports (Filipino; Kagawaran ng Edukasyon, Kultura at Palakasan; Philippines) DECS Domino Enterprise Connection Services (Lotus) (NYSE:COFPRC). The remarketing was conducted pursuant to the terms of the Upper DECS and is scheduled to close on Feb. 17, 2005. The remarketing was conducted on behalf of Upper DECS holders who did not opt out of the remarketing. Proceeds from the remarketing of the Senior Notes will be used to purchase U.S. Treasury securities U.S. Treasury securities Interest-bearing obligations if the U.S. government issued by the U.S. Department of the Treasury as a means of borrowing money to meet government expenditures not covered by tax revenues. that will be pledged to secure the stock purchase obligations of the participating Upper DECS holders. Holders of record on February 16, 2005 of the outstanding Upper DECS whose Senior Notes participated in the remarketing will receive, on or about February 17, 2005, the remaining proceeds from the remarketing (after deduction deduction, in logic, form of inference such that the conclusion must be true if the premises are true. For example, if we know that all men have two legs and that John is a man, it is then logical to deduce that John has two legs. of the remarketing fee and the purchase price of the portfolio of U.S. Treasury securities) in an amount equal to $0.126 per Upper DECS. About Capital One Headquartered in McLean, Virginia McLean is an unincorporated community located in Fairfax County in Northern Virginia. A small geographic area along Chain Bridge Road in Arlington County has a 22101 zip code and is also part of McLean. , Capital One Financial Corporation (www.capitalone.com) is a bank holding company whose principal subsidiaries, Capital One Bank and Capital One, F.S.B., offer consumer lending Consumer lending or consumer loans refers to any type of loan product that is not a mortgage; such as a car, boat, manufactured home, home equity loan, home equity line of credit, signature loan, signature line of credit, recreational vehicle, or Certificate of Deposit loans. products and Capital One Auto Finance, Inc., offers automobile and other motor vehicle financing products. Capital One's subsidiaries collectively had 48.6 million accounts and $79.9 billion in managed loans outstanding as of December 31, 2004. Capital One, a Fortune 500 company, is one of the largest providers of MasterCard and Visa credit cards in the world. Capital One trades on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. under the symbol "COF" and is included in the S&P 500 index. |
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