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Valley National calls $15 million of 7.75% trust preferred securities
By Tali David
Minneapolis, June 25 - Valley National Bancorp plans to redeem $15 million of its 7.75% trust preferred securities due Dec. 15, 2031, the company said in a news release.
The redemption date is July 26.
Valley National's subsidiary, VNB Capital Trust 1, issued the securities.
The company previously redeemed $57.7 million of the original issuance of $200 million of 7.75% trust preferred securities, the release said.
Valley National is a Wayne, N.J.-based regional bank holding company.
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