First BanCorp plans to delist five perpetual preferreds by Jan. 17

By Susanna Moon

Chicago, Dec. 22 - First BanCorp said it applied to delist five series of noncumulative perpetual monthly income preferred stock from the New York Stock Exchange by Jan. 17.

The company will delist its 7.125% series A preferreds, 8.35% series B preferreds, 7.4% series C preferreds, 7.25% series D preferreds and 7% series E preferreds.

The company provided written notice to the exchange on Wednesday.

As previously reported, an exchange offer for the five series of preferreds expired at 9:30 a.m. ET on Aug. 25. Investors tendered about 89% of the outstanding preferreds in exchange for common shares.

First BanCorp is the bank holding company for FirstBank Puerto Rico. It is based in Santurce, Puerto Rico.

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