By Stephanie N. Rotondo
Phoenix, Nov. 2 - The U.S. Department of the Treasury auctioned off $3.14 million of senior subordinated securities due 2039 issued by F&C Bancorp Inc., the agency said in a press release on Friday.
The Holden, Mo.-based bank sold the notes under the Troubled Asset Relief Program. The modified Dutch auction began Wednesday and ended late Thursday.
The Treasury sold $2.99 million of 7.7% $1,000-par notes at $958.77 per note. Another $150,000 of 13.8% notes were sold at par each.
Total proceeds came to $3.02 million.
F&C will not receive any of the proceeds.
Settlement is expected on or about Nov. 9 and Nov. 13.
| Issuer: | F&C Bancorp Inc.
|
| Amount: | $3.14 million
|
| Proceeds: | $3.02 million
|
| Par: | $1,000
|
| Pricing dates: | Oct. 31 and Nov. 1
|
| Settlement dates: Nov. 9 and Nov. 13
|
|
|
| 7.7% notes
|
| Securities: | Senior subordinated notes
|
| Amount: | $2.99 million
|
| Maturity: | 2039
|
| Coupon: | 7.7%
|
| Price: | $958.77 per note
|
|
|
| 13.8% notes
|
| Securities: | Senior subordinated notes
|
| Amount: | $150,000
|
| Maturity: | 2039
|
| Coupon: | 13.8%
|
| Price: | $1,000 per note
|
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