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RA Holding to redeem 2.2 million preferreds at $21.00 on May 27
By Susanna Moon
Chicago, May 18 – RA Holding Corp. said it will redeem 2.2 million of its class A preferred shares issued under the second amended joint plan of reorganization of Arcapita Bank BSC for $21.00 per share.
After the redemption on May 27, there will be 6.3 million of class A preferreds left outstanding, according to a company announcement.
RA Holding Corp. is the top level holding company in the group created under the plan of reorganization of Arcapita Bank and its affiliates under Chapter 11 of the U.S. Bankruptcy Code. Arcapita is a Manama, Bahrain-based investment bank.
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