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Univest Capital Trust I to redeem all $20 million of trust preferreds
By Tali David
Minneapolis, May 16 - Univest Corp. of Pennsylvania plans to redeem all $20 million of the outstanding floating-rate capital securities due Oct. 7, 2033 issued by Univest Capital Trust I, according to an 8-K filing with the Securities and Exchange Commission.
The trust preferred securities will be redeemed at the liquidation amount of $1,000 each plus accrued distributions on July 7.
The redemption also includes $619,000 of common securities issued by Univest Capital Trust I and related to the trust preferreds.
Univest is a bank holding company in Souderton, Pa.
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