First Merchants to redeem $40 million subordinated fixed-to-floaters

By William Gullotti

Buffalo, N.Y., Jan. 2 – First Merchants Corp. will redeem $40 million of its 6.75% fixed-to-floating subordinated notes due 2028 on Jan. 30, according to an 8-K filing with the Securities and Exchange Commission.

The redemption notice was sent to holders via the issuing and paying agent on Dec. 29.

After the redemption, $25 million of the 2013-issued notes will remain outstanding.

First Merchants is a Muncie, Ind., financial services holding company.

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