Associated Banc-Corp (ASBC) Releases Plan to Payoff TARP, No Plans to Issue Common Shares Following
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Associated Banc-Corp (NASDAQ: ASBC) intends to redeem the remaining portion of its Series A Preferred stock issued under the Troubled Asset Relief Program Capital Purchase Program on September 28, 2011.
Approval for redemption of the $262.5 million Series A Stock outstanding is conditioned upon a public offering of new preferred stock with proceeds of $65 million and senior notes with proceeds of $132 million. The company has no plans to issue any common stock in connection with the redemption.
Approval for redemption of the $262.5 million Series A Stock outstanding is conditioned upon a public offering of new preferred stock with proceeds of $65 million and senior notes with proceeds of $132 million. The company has no plans to issue any common stock in connection with the redemption.
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