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Valley National calls $10 million of 7.75% trust preferred securities
By Ashley Montgomery
Kansas City, Kan., Dec. 16 - Valley National Bancorp will redeem $10 million principal amount of its 7.75% trust preferred securities due Dec. 15, 2031, the company said in a news release.
The redemption date is Jan. 17.
The securities were issued by the company's subsidiary VNB Capital Trust 1.
The company has previously redeemed $40 million of the original issuance of $200 million of 7.75% trust preferred securities, according to the release.
Valley National is a Wayne, N.J.-based regional bank holding company.
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