BB&T assumes National Penn trust preferreds, 4.25% notes after merger

By Susanna Moon

Chicago, April 4 – BB&T Corp. will assume obligations of National Penn Bancshares, Inc.’s outstanding trust preferred securities and its 4.25% senior notes due 2024 in connection with their merger last Friday, according to an 8-K filing by National Penn with the Securities and Exchange Commission.

National Penn, BB&T and U.S. Bank NA also entered into a second supplemental indenture, the filing noted.

National Penn is a Boyertown, Pa.-based holding company for National Penn Bank.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.