MB Financial, Inc. Announces Redemption of TAYC Capital Trust I 9.75% Trust Preferred Securities
22 August 2014 - 10:53PM
Business Wire
MB Financial, Inc. (“MB Financial,” NASDAQ: MBFI), the parent
company of MB Financial Bank, N.A., announced today that TAYC
Capital Trust I will redeem all of the issued and outstanding 9.75%
TAYC Capital Trust I Trust Preferred Securities (“TruPS” or “trust
preferred securities”) CUSIP— 87216N205 – (NASDAQ: TAYCP) on
September 22, 2014 (the “redemption date”). The aggregate
liquidation amount of TruPS outstanding is $45.4 million. The
redemption price will be $25.00 per trust preferred security, which
represents 100% of the liquidation amount, together with
accumulated and unpaid distributions to the redemption date, which
is estimated at $1.0 million in the aggregate. The paying agent is
Wells Fargo Delaware Trust Company, N.A. 919 North Market Street,
Suite 1600 Wilmington, DE 19801.
The redemption of the trust preferred securities is a result of
the concurrent redemption that will be made by MB Financial of its
9.75% Junior Subordinated Debentures (the “debentures”) due 2032,
all of which are held by TAYC Capital Trust I. The debentures were
originally issued by Taylor Capital Group, Inc. (“Taylor Capital”)
and were assumed by MB Financial upon the merger of Taylor Capital
into MB Financial, which became effective on August 18, 2014.
About MB Financial, Inc. (NASDAQ: MBFI)
MB Financial Inc. is the Chicago-based holding company for MB
Financial Bank, N.A., which has approximately $15 billion in assets
and a more than one hundred year history of building deep and
lasting relationships with middle-market companies and individuals.
MB offers a full range of powerful financial solutions and the
expertise and experience of bankers who are focused on their
clients’ success.
Learn more about MB Financial, Inc. at www.mbfinancial.com.
Safe Harbor Statement: Statements in this press release that are
not historical facts are "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995. By
their nature, such statements are subject to numerous factors that
could cause actual results to differ materially from those
anticipated in such statements, as discussed in MB Financial’s
filings with the Securities and Exchange Commission.
MB Financial, Inc.Jill York, Vice President and Chief Financial
OfficerE-Mail: jyork@mbfinancial.com(888) 422-6562
(MM) (NASDAQ:TAYCP)
Historical Stock Chart
Von Mai 2024 bis Jun 2024
(MM) (NASDAQ:TAYCP)
Historical Stock Chart
Von Jun 2023 bis Jun 2024