RA Holding to redeem another $20 million of class A preferred shares

By Mary-Katherine Stinson

Lexington, Ky., Nov. 6 – RA Holding Corp. said it will redeem $20 million, or 4.3%, of its class A preferred shares that were issued under the second amended joint plan of reorganization of Arcapita Bank BSC, according to a press release Monday.

The redemption record date is Nov. 8, and distributions are expected on or about Nov. 28, the company said.

Following the repayment of about 246,775 shares, RA Holding will have 5,462,396 of the preferreds left outstanding.

RA Holding is the top-level holding company in the group created under the plan of reorganization of Arcapita Bank and its affiliates under Chapter 11 of the U.S. Bankruptcy Code. Arcapita is a Manama, Bahrain-based investment bank.

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