First Republic Preferred Capital calls all 7.25% series D preferreds

By Ashley Montgomery

Kansas City, Kan., May 29 - First Republic Preferred Capital Corp. will redeem all $60 million of its 7.25% noncumulative perpetual series D preferred stock, according to an 8-K filed with the Securities and Exchange Commission.

The preferreds will be redeemed on June 29 at their liquidation preference of $25 per share, plus accrued interest to the redemption date. There are currently 2.4 million preferred shares outstanding.

First Republic Preferred Capital is a subsidiary of First Republic Bank, a private bank and wealth management company. Both are based in San Francisco.

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