WesBanco says Regal MD debentures will be redeemed on March 16, 17

By Sarah Lizee

Olympia, Wash., Feb. 10 – WesBanco, Inc. provided redemption notices to the holders of Regal MD Statutory Trust II’s floating-rate junior subordinated deferrable interest debentures due 2035 and holders of Regal MD Statutory Trust I’s floating-rate junior subordinated deferrable interest debentures due 2034, according to an 8-K filing with the Securities and Exchange Commission.

The debentures due 2035 will be redeemed on March 16 and the debentures due 2034 will be redeemed on March 17.

All debentures will be redeemed at par plus accrued interest.

For the debentures due 2035, the aggregate redemption price, excluding accrued interest, will total about $2.6 million.

For the debentures due 2034, the aggregate redemption price, excluding accrued interest, will total about $4.1 million.

Regal MD Statutory Trust I and Regal MD Statutory Trust II are Delaware trusts established in 2003 and 2005, respectively, by Regal Bancorp, Inc., which was acquired by WesBanco in November 2019 as a result of the company’s merger with Old Line Bancshares, Inc. The trust owns junior subordinated debentures by WesBanco, which are also being redeemed.

WesBanco is a bank holding company based in Wheeling, W.Va.

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