MB Financial calls all $45.4 million 9.75% TAYC Capital Trust I TruPS

By Toni Weeks

San Luis Obispo, Calif., Aug. 22 – MB Financial, Inc. announced that TAYC Capital Trust I will redeem all $45.4 million of its outstanding 9.75% TAYC Capital Trust I trust preferred securities on Sept. 22.

The securities will be redeemed at a redemption price equal to the $25 liquidation amount per security plus accrued distributions to the redemption date.

Wells Fargo Delaware Trust Co., NA is the paying agent.

The redemption is a result of the company’s redemption of its 9.75% junior subordinated debentures due 2032, which are held by TAYC Capital Trust I. These debentures were originally issued by Taylor Capital Group, Inc and were assumed by MB Financial upon the merger of Taylor Capital into MB Financial, which became effective Aug. 18.

Based in Chicago, MB Financial is a financial holding company and the parent company of MB Financial Bank, NA.

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