Exhibit 25

 

 

 

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) 
o

 


 

THE BANK OF NEW YORK MELLON
TRUST COMPANY, N.A.

(Exact name of trustee as specified in its charter)

 

(Jurisdiction of incorporation
if not a U.S. national bank)

 

95-3571558
(I.R.S. employer
identification no.)

 

400 South Hope Street

 

 

Suite 500

 

 

Los Angeles, California

 

90071

(Address of principal executive offices)

 

(Zip code)

 


 

3M Company

(Exact name of obligor as specified in its charter)

 

Delaware

 

41-0417775

(State or other jurisdiction of

 

(I.R.S. employer

incorporation or organization)

 

identification no.)

 

 

 

3M Center

 

 

St. Paul, Minnesota

 

55144

(Address of principal executive offices)

 

(Zip code)

 


 

Debt Securities
(Title of the indenture securities)

 

 

 


 

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

United States Department of the Treasury

 

Washington, DC 20219

 

 

 

Federal Reserve Bank

 

San Francisco, CA 94105

 

 

 

Federal Deposit Insurance Corporation

 

Washington, DC 20429

 

(b)                                 Whether it is authorized to exercise corporate trust powers.

 

Yes.

 

2.                                      Affiliations with Obligor.

 

If the obligor is an affiliate of the trustee, describe each such affiliation.

 

None.

 

16.                               List of Exhibits.

 

Exhibits identified in parentheses below, on file with the Commission, are incorporated herein by reference as an exhibit hereto, pursuant to Rule 7a-29 under the Trust Indenture Act of 1939 (the “Act”) and 17 C.F.R. 229.10(d).

 

1.                                      A copy of the articles of association of The Bank of New York Mellon Trust Company, N.A., formerly known as The Bank of New York Trust Company, N.A. (Exhibit 1 to Form T-1 filed with Registration Statement No. 333-121948 and Exhibit 1 to Form T-1 filed with Registration Statement No. 333-152875).

 

2.                                      A copy of certificate of authority of the trustee to commence business. (Exhibit 2 to Form T-1 filed with Registration Statement No. 333-121948).

 

3.                                      A copy of the authorization of the trustee to exercise corporate trust powers (Exhibit 3 to Form T-1 filed with Registration Statement No. 333-152875).

 

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4.                                      A copy of the existing by-laws of the trustee (Exhibit 4 to Form T-1 filed with Registration Statement No. 333-229762).

 

6.                                      The consent of the trustee required by Section 321(b) of the Act (Exhibit 6 to Form T-1 filed with Registration Statement No. 333-152875).

 

7.                                      A copy of the latest report of condition of the Trustee published pursuant to law or to the requirements of its supervising or examining authority.

 

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SIGNATURE

 

Pursuant to the requirements of the Act, the Trustee, The Bank of New York Mellon Trust Company, N.A., a 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 Chicago, and State of Illinois, on the 3rd  day of February, 2020.

 

 

THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A.

 

 

 

 

By:

/s/ Lawrence M. Kusch

 

 

Name:

Lawrence M. Kusch

 

 

Title:

Vice President

 

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EXHIBIT 7

 

Consolidated Report of Condition of

THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A.

of 400 South Hope Street, Suite 500, Los Angeles, CA 90071

 

At the close of business September 30, 2019, published in accordance with Federal regulatory authority instructions.

 

 

 

Dollar amounts

 

 

 

in thousands

 

 

 

 

 

ASSETS

 

 

 

 

 

 

 

Cash and balances due from depository institutions:

 

 

 

Noninterest-bearing balances and currency and coin

 

2,683

 

Interest-bearing balances

 

209,168

 

Securities:

 

 

 

Held-to-maturity securities

 

0

 

Available-for-sale securities

 

171,210

 

Equity securities with readily determinable fair values not held for trading

 

0

 

Federal funds sold and securities purchased under agreements to resell:

 

 

 

Federal funds sold

 

0

 

Securities purchased under agreements to resell

 

0

 

Loans and lease financing receivables:

 

 

 

Loans and leases held for sale

 

0

 

Loans and leases, held for investment

 

0

 

LESS: Allowance for loan and lease losses

 

0

 

Loans and leases held for investment, net of allowance

 

0

 

Trading assets

 

0

 

Premises and fixed assets (including capitalized leases)

 

24,228

 

Other real estate owned

 

0

 

Investments in unconsolidated subsidiaries and associated companies

 

0

 

Direct and indirect investments in real estate ventures

 

0

 

Intangible assets

 

856,313

 

Other assets

 

96,903

 

Total assets

 

$

1,360,505

 

 

1


 

LIABILITIES

 

 

 

 

 

 

 

Deposits:

 

 

 

In domestic offices

 

2,897

 

Noninterest-bearing

 

2,897

 

Interest-bearing

 

0

 

Not applicable

 

 

 

Federal funds purchased and securities sold under agreements to repurchase:

 

 

 

Federal funds purchased

 

0

 

Securities sold under agreements to repurchase

 

0

 

Trading liabilities

 

0

 

Other borrowed money:
(includes mortgage indebtedness and obligations under capitalized leases)

 

19,424

 

Not applicable

 

 

 

Not applicable

 

 

 

Subordinated notes and debentures

 

0

 

Other liabilities

 

229,299

 

Total liabilities

 

251,620

 

Not applicable

 

 

 

 

 

 

 

EQUITY CAPITAL

 

 

 

 

 

 

 

Perpetual preferred stock and related surplus

 

0

 

Common stock

 

1,000

 

Surplus (exclude all surplus related to preferred stock)

 

323,878

 

Not available

 

 

 

Retained earnings

 

783,657

 

Accumulated other comprehensive income

 

350

 

Other equity capital components

 

0

 

Not available

 

 

 

Total bank equity capital

 

1,108,885

 

Noncontrolling (minority) interests in consolidated subsidiaries

 

0

 

Total equity capital

 

1,108,885

 

Total liabilities and equity capital

 

1,360,505

 

 

I, Matthew J. McNulty, CFO of the above-named bank do hereby declare that the Reports of Condition and Income (including the supporting schedules) for this report date have been prepared in conformance with the instructions issued by the appropriate Federal regulatory authority and are true to the best of my knowledge and belief.

 

Matthew J. McNulty

)

CFO

 

We, the undersigned directors (trustees), attest to the correctness of the Report of Condition (including the supporting schedules) for this report date and declare that it has been examined by us and to the best of our knowledge and belief has been prepared in conformance with the instructions issued by the appropriate Federal regulatory authority and is true and correct.

 

Antonio I. Portuondo, President

)

 

Michael P. Scott, Managing Director

)

Directors (Trustees)

Kevin P. Caffrey, Managing Director

)

 

 

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