Sat, Jul 12, 2014, 5:03 PM EDT - U.S. Markets closed

Recent

% | $
Quotes you view appear here for quick access.

Silicon Valley Bancshares (SIVB) Message Board

  • letsinvest2003 letsinvest2003 Nov 5, 2003 1:59 PM Flag

    Redemption of its 8.25% Debentures on

    $41.2 Million of Principal Will Help Future Earnings.

    SIVB will have $3.4 million less interest payments annually (8.25% * $41.2M) which helps the bottom-line.


    Company News

    SIVB:US Silicon Valley Bancshares
    More on SIVB:US NewsDetailed QuoteCharts


    Silicon Valley Bancshares Calls for Redemption of Junior

    Subordinated
    Deferrable Interest Debentures Due 2028
    SVB Capital I Calls for Redemption of Trust Preferred Securities Due 2028

    SANTA CLARA, Calif., Oct. 30 /PRNewswire-FirstCall/ -- Silicon Valley Bancshares (Nasdaq: SIVB), has called for redemption on December 1, 2003 all of its outstanding 8.25% Junior Subordinated Deferrable Interest Debentures due 2028 (the "Debentures"). There is approximately $41.2 million aggregate principal amount of the Debentures outstanding.

    Holders will have their Debentures redeemed at a total redemption price of approximately $25.435 per $25.00 principal amount of Debentures, consisting of $25.00 principal amount plus accrued and unpaid interest of approximately $0.435. After December 1, 2003, interest will cease to accrue on the Debentures.

    A Notice of Redemption is being mailed to all registered holders of the Debentures. Copies of the Notice of Redemption may be obtained from the redemption agent, Wilmington Trust Company, by calling Denise Geran at 302-636-6396.

    Additionally, SVB Capital I, has called for redemption on December 1, 2003 all of its outstanding 8.25% Cumulative Trust Preferred Securities due 2028 (the "Trust Securities"). There is approximately $40.0 million aggregate liquidation amount of Trust Securities outstanding.

    Holders will have their Trust Securities redeemed at a total redemption price of approximately $25.435 per $25.00 liquidation amount of Trust Securities, consisting of $25.00 liquidation amount plus accrued and unpaid accumulated distributions of approximately $0.435. After December 1, 2003, distributions will cease to accrue on the Trust Securities.

    A Notice of Redemption is being mailed to all registered holders of the Trust Securities. Copies of the Notice of Redemption may be obtained from the redemption agent, Wilmington Trust Company, by calling Denise Geran at 302-636-6396."

    SortNewest  |  Oldest  |  Most Replied Expand all replies
 
SIVB
112.52-0.47(-0.42%)Jul 11 4:00 PMEDT

Trending Tickers

i
Trending Tickers features significant U.S. stocks showing the most dramatic increase in user interest in Yahoo Finance in the previous hour over historic norms. The list is limited to those equities which trade at least 100,000 shares on an average day and have a market cap of more than $300 million.