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The Federal Reserve Board has given Valley National Bancorp in Wayne, N.J., approval to redeem $127.5 million of trust-preferred securities.
August 29 -
Valley National Bancorp in Wayne, N.J., plans to redeem $15 million in trust-preferred securities.
June 26 -
Valley National Bancorp's (VLY) second-quarter earnings slipped as the Wayne, N.J., company saw its expenses rise and recorded a higher provision for credit losses.
July 26
Valley National Bancorp (VLY) in Wayne, N.J., is offering to sell up to $125 million of subordinated notes to repay its trust-preferred debt.
The $16 billion-asset company plans to use the proceeds from the note sale, along with other funds, to redeem more than $131 million of Trups debt on which it pays 7.75% interest. The expected interest rate of the new debt was not included in the
Keefe, Bruyette & Woods, Sandler O'Neill and Deutsche Bank (DB) are underwriting the offering.
Valley National announced plans to
