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Alerus Financial redeems $50 million 5¾% subordinated notes due 2025
By Rebecca Melvin
New York, Jan. 29 – Alerus Financial Corp. redeemed the entire aggregate $50 million outstanding principal amount of its 5¾% fixed-to-floating rate subordinated notes due 2025, according to a news release.
The redemption price was 100% of the aggregate principal amount of the notes, plus accrued and unpaid interest to, but excluding, the redemption date.
The banking services company is based in Grand Forks, N.D.
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