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
MB Financial, Inc.
Jill York, Vice President and Chief Financial
Source: MB Financial, Inc.