EX-25.1 4 d818603dex251.htm EX-25.1 EX-25.1

Exhibit 25.1

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM T-1

 

 

STATEMENT OF ELIGIBILITY

UNDER THE TRUST INDENTURE ACT OF 1939

OF A CORPORATION DESIGNATED TO ACT AS TRUSTEE

 

Check if an Application to Determine Eligibility of a Trustee Pursuant to Section 305 (b)(2)

 

 

CITIBANK, N.A.

(Exact name of Trustee as specified in its charter)

 

 

 

A National Banking Association   13-5266470

(Jurisdiction of incorporation or

organization if not a U.S. national bank)

 

(I.R.S. Employer

Identification No. )

399 Park Avenue,  
New York, New York   10043
(Address of principal executive office)   (Zip Code)

Citibank, N.A.

388 Greenwich Street

New York, N.Y. 10013

(212) 816-0392

(Name, address, and telephone number of agent for service)

 

 

TD SYNNEX Corporation

(Exact name of obligor as specified in its charter)

 

 

SEE TABLE OF ADDITIONAL REGISTRANTS

 

Delaware   94-2703333

(State or other jurisdiction of

incorporation or organization)

 

(I.R.S. employer

identification no.)

442 Nobel Drive  
Fremont, California   94538
(Address of principal executive offices)    (Zip Code)

 

 

Debt Securities

(Title of Indenture Securities)

 

 

 


Item 1.    General Information.
      Furnish the following information as to the trustee:
   (a)    Name and address of each examining or supervising authority to which it is subject.
      Name    Address
      Comptroller of the Currency    Washington, D.C.
      Federal Reserve Bank of New York    33 Liberty Street, New York, NY
      Federal Deposit Insurance Corporation    Washington, D.C.
   (b)    Whether it is authorized to exercise corporate trust powers.
      Yes.
Item 2.    Affiliations with Obligor.
      If the obligor is an affiliate of the trustee, describe each such affiliation.
     

None.

Items 3-15.    Not Applicable.
Item 16.    List of Exhibits.
   List below all exhibits filed as a part of this Statement of Eligibility. Exhibits identified in parentheses below, on file with the Commission, are incorporated herein by reference as exhibits hereto.
   Exhibit 1 - Copy of Articles of Association of the Trustee, as now in effect. (Exhibit 1 to T-1 filed as exhibit to the Filing 305B2 dated October 5, 2012 under File No. 333-183223).
   Exhibit 2 - Copy of certificate of authority of the Trustee to commence business. (Exhibit 2 to T-1 filed May 5, 2014 under File No. 333-195697).
   Exhibit 3 - Copy of authorization of the Trustee to exercise corporate trust powers. (Exhibit 3 to T-1 filed May 5, 2014 under File No. 333-195697).
   Exhibit 4 - Copy of existing By-Laws of the Trustee. (Exhibit 4 to T-1 filed as exhibit to the Filing 305B2 dated October 5, 2012 under File No. 333-183223).
   Exhibit 5 - Not applicable.


   Exhibit 6 - The consent of the Trustee required by Section 321(b) of the Trust Indenture Act of 1939. (Exhibit 6 to T-1 filed May 5, 2014 under File No. 333-195697).
   Exhibit 7 - Copy of the latest Report of Condition of Citibank, N.A. (as of December 31, 2023 - attached).
   Exhibit 8 - Not applicable.
   Exhibit 9 - Not applicable.

 

 


SIGNATURE

Pursuant to the requirements of the Trust Indenture Act of 1939, the Trustee, Citibank, N.A., a national banking association organized and existing under the laws of the United States of America, has duly caused this statement of eligibility to be signed on its behalf by the undersigned, thereunto duly authorized, all in The City of New York and State of New York, on the 5th day of April, 2024.

 

CITIBANK, N.A.
By  

/s/ Miriam Molina

  Miriam Molina
  Senior Trust Officer


CONSOLIDATED BALANCE SHEET    Citigroup Inc. and Subsidiaries

 

     December 31,  

In millions of dollars

   2023     2022  

Assets

 

Cash and due from banks (including segregated cash and other deposits)

   $ 27,342     $ 30,577  

Deposits with banks, net of allowance

     233,590       311,448  

Securities borrowed and purchased under agreements to resell (including $206,059 and $239,527 as of December 31, 2023 and 2022, respectively, at fair value), net of allowance

     345,700       365,401  

Brokerage receivables, net of allowance

     53,915       54,192  

Trading account assets (including $197,156 and $133,535 pledged to creditors at December 31, 2023 and 2022, respectively)

     411,756       334,114  

Investments:

 

Available-for-sale debt securities (including $11,868 and $10,933 pledged to creditors as of December 31, 2023 and 2022, respectively)

     256,936       249,679  

Held-to-maturity debt securities, net of allowance (fair value of which is $235,001 and $243,648 as of December 31, 2023 and 2022, respectively) (includes $71 and $0 pledged to creditors as of December 31, 2023 and 2022, respectively)

     254,247       268,863  

Equity securities (including $766 and $895 as of December 31, 2023 and 2022, respectively, at fair value)

     7,902       8,040  
  

 

 

   

 

 

 

Total investments

   $ 519,085     $ 526,582  

Loans:

 

Consumer (including $313 and $237 as of December 31, 2023 and 2022, respectively, at fair value)

     389,197       368,067  

Corporate (including $7,281 and $5,123 as of December 31, 2023 and 2022, respectively, at fair value)

     300,165       289,154  
  

 

 

   

 

 

 

Loans, net of unearned income

   $ 689,362     $ 657,221  

Allowance for credit losses on loans (ACLL)

     (18,145     (16,974
  

 

 

   

 

 

 

Total loans, net

   $ 671,217     $ 640,247  

Goodwill

     20,098       19,691  

Intangible assets (including MSRs of $691 and $665 as of December 31, 2023 and 2022, respectively)

     4,421       4,428  

Premises and equipment, net of depreciation and amortization

     28,747       26,253  

Other assets (including $12,290 and $10,658 as of December 31, 2023 and 2022, respectively, at fair value), net of allowance

     95,963       103,743  
  

 

 

   

 

 

 

Total assets

   $ 2,411,834     $ 2,416,676  
  

 

 

   

 

 

 

Statement continues on the next page.


CONSOLIDATED BALANCE SHEET

(Continued)

   Citigroup Inc. and Subsidiaries

 

     December 31,  

In millions of dollars, except shares and per share amounts

   2023     2022  

Liabilities

    

Deposits (including $2,440 and $1,875 as of December 31, 2023 and 2022, respectively, at fair value)

   $ 1,308,681     $ 1,365,954  

Securities loaned and sold under agreements to repurchase (including $62,485 and $70,886 as of December 31, 2023 and 2022, respectively, at fair value)

     278,107       202,444  

Brokerage payables (including $4,321 and $4,439 as of December 31, 2023 and 2022, respectively, at fair value)

     63,539       69,218  

Trading account liabilities

     155,345       170,647  

Short-term borrowings (including $6,545 and $6,222 as of December 31, 2023 and 2022, respectively, at fair value)

     37,457       47,096  

Long-term debt (including $116,338 and $105,995 as of December 31, 2023 and 2022, respectively, at fair value)

     286,619       271,606  

Other liabilities, plus allowances

     75,835       87,873  
  

 

 

   

 

 

 

Total liabilities

   $ 2,205,583     $ 2,214,838  
  

 

 

   

 

 

 

Stockholders’ equity

    

Preferred stock ($1.00 par value; authorized shares: 30 million), issued shares: as of December 31, 2023—704,000 and as of December 31, 2022—759,800, at aggregate liquidation value

   $ 17,600     $ 18,995  

Common stock ($0.01 par value; authorized shares: 6 billion), issued shares: as of December 31, 2023—3,099,691,704 and as of December 31, 2022—3,099,669,424

     31       31  

Additional paid-in capital

     108,955       108,458  

Retained earnings

     198,905       194,734  

Treasury stock, at cost: December 31, 2023—1,196,577,865 shares and December 31, 2022—1,162,682,999 shares

     (75,238     (73,967

Accumulated other comprehensive income (loss) (AOCI)

     (44,800     (47,062
  

 

 

   

 

 

 

Total Citigroup stockholders’ equity

   $ 205,453     $ 201,189  

Noncontrolling interests

     798       649  
  

 

 

   

 

 

 

Total equity

   $ 206,251     $ 201,838  
  

 

 

   

 

 

 

Total liabilities and equity

   $ 2,411,834     $ 2,416,676  
  

 

 

   

 

 

 

The Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements.