Banca Popolare calls fixed/floating perpetual trust preferreds

By Wendy Van Sickle

Columbus, Ohio, May 28 – Banca Popolare SC said that it will redeem all €500 million of the non-cumulative guaranteed fixed/floating rate perpetual trust preferred securities issued by Banco Popolare di Lodi Investor Trust III on June 30, according to a Thursday notice to investors.

The bank will pay €533.71 million in total for the redemption, an amount equal to the regular redemption price.

Under the terms of the securities, they can be redeemed on any dividend payment date starting June 30.

Banco Popolare is a cooperative bank based in Verona, Italy.

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