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South State plans to redeem $45 million 7% trust preferreds on Jan. 7
By Susanna Moon
Chicago, Dec. 8 – South State Corp. plans to redeem its $45 million 7% junior subordinated deferrable interest debt securities due 2034, according to an 8-K filing with the Securities and Exchange Commission.
The trust preferred securities will be redeemed on Jan. 7.
The company said on Monday that it received a regulatory no objection for the redemption of the trust preferreds.
The trust preferreds were issued on March 24, 2004 by First Financial Holdings, Inc., and South State acquired First Financial on July 26, 2013 and assumed the trust preferreds.
South State, formerly First Financial Holdings, Inc., is a bank holding company based in Columbia, S.C.
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