Regions Financial to redeem Park Meridian's 10.2% securities Aug. 22

By Marisa Wong

Madison, Wis., July 8 - Regions Financial Corp. will redeem the 10.2% capital securities issued by Park Meridian Statutory Trust I on Aug. 22. Regions sent a redemption notice to trustee U.S. Bank NA on Monday, according to an 8-K filing with the Securities and Exchange Commission.

The 10.2% securities will be redeemed at a price of 104.08 plus accrued distributions.

The outstanding principal amount of the securities is roughly $3 million, the filing noted.

Regions will fund the redemption with cash on hand.

The financial holding company is based in Birmingham, Ala.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.