Regions Financial calls $345 million of trust's 8.875% preferreds

By Ashley Montgomery

Kansas City, Kan., Nov. 1 - Regions Financial Corp. will redeem all $345 million of Regions Financing Trust III's 8.875% trust preferred securities, according to a news release.

The preferreds will be redeemed on Dec. 3 at par plus accrued interest to the redemption date.

The company said it would fund the redemption with proceeds from its recent preferred stock offering.

Regions is a financial holding company based in Birmingham, Ala.

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