Peoples Bancorp plans to redeem preferreds, other securities

By Ashley Montgomery

Kansas City, Kan., Nov. 20 - Peoples Bancorp Inc. plans to redeem all $23 million of outstanding series B 8.62% capital securities issued by PEBO Capital Trust I, $7 million of trust preferred securities and all common securities issued by PEBO Capital Trust 1, according to a news release.

The company said it also submitted a notice of prepayment for all of PEBO Capital Trust I's $928,000 series A 8.62% junior subordinated deferrable interest debentures due May 1 2029 and $30 million of series B 8.62% junior subordinated deferrable interest debentures due May 1, 2029.

The debentures and trust preferreds will be redeemed on Dec. 19 at 103.017 plus accumulated distributions to the redemption date.

The company said it plans to fund the redemptions with borrowings from a term loan.

The Depository Trust Cop. is the trustee.

The financial holding company is based in Marietta, Ohio.

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