BB&T announces redemption of $50 million of trust preferred securities

By Tali David

Minneapolis, Sept. 7 - BB&T Corp. plans to redeem four series of securities, according to an 8-K filing with the Securities and Exchange Commission.

The following will be redeemed at $1,000 per trust preferred plus accrued distributions:

• $15 million of BBC Capital Trust VIII floating-rate trust preferreds to be redeemed on Oct. 7;

• $10 million of BBC Capital Trust IX floating-rate trust preferreds to be redeemed on Oct. 7;

• $15 million of BBC Capital Trust XII trust preferreds to be redeemed on Oct. 7; and

• $10 million of BBC Capital Trust XI fixed/floating-rate trust preferreds to be redeemed on Oct. 24.

BB&T is a financial services company based in Winston-Salem, N.C.

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