By Stephanie N. Rotondo
Phoenix, April 19 - The Department of the Treasury auctioned $2.61 million of debt securities issued by Plato Holdings Inc., according to a press release.
The securities were issued to the agency under the Troubled Asset Relief Program.
The modified Dutch auction began Monday and ended Thursday.
The agency sold $2.5 million of 7.7% senior subordinated notes due 2039 at $1,001.50 each. Another $107,000 of 13.8% senior subordinated notes due 2039 were sold at $1,080.21.
Total proceeds raised came to $2.62 million.
The St. Paul, Minn.-based bank will not receive any of the raised funds.
| Issuer: | Plato Holdings Inc.
|
| Issue: | Senior subordinated securities
|
| Amount: | $2,607,000
|
| Proceeds: | $2,619,332.47
|
| Settlement date: | April 29
|
|
|
| 7.7% securities
|
| Amount: | $2.5 million
|
| Maturity: | 2039
|
| Price: | $1,001.50
|
| Par: | $1,000
|
|
|
| 13.8% securities
|
| Amount: | $107,000
|
| Maturity: | 2039
|
| Price: | $1,080.21
|
| Par: | $1,000
|
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