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PrivateBancorp Capital Trust IV calls $75 million 10% trust-preferreds
By Tali Rackner
Norfolk, Va., Sept. 8 – PrivateBancorp, Inc. announced that PrivateBancorp Capital Trust IV will redeem $75 million of its $143.8 million 10% trust-preferred securities, according to a filing with the Securities and Exchange Commission.
The preferreds will be redeemed at $25 per security plus accrued interest of about $480,000 on Oct. 8.
The bank holding company is based in Chicago.
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