MB Financial, Inc. to Redeem Series A Preferred Stock
January 10 2018 - 4:00PM
MB Financial, Inc. (the “Company”)
(NASDAQ:MBFI) announced today it will redeem all of the outstanding
shares of its Perpetual Non-Cumulative Preferred Stock, Series A
(the “Series A Preferred Stock”) (NASDAQ:MBFIP) (CUSIP No.
55264U207). There are currently 4,000,000 outstanding shares
of the Series A Preferred Stock.
The Series A Preferred Stock will be redeemed on
February 15, 2018 (the “Redemption Date”) at a redemption price
(the “Redemption Price”) of $25.00 per share ($100,000,000 in the
aggregate). Since the Redemption Date is also a dividend
payment date, the Redemption Price does not include any declared
and unpaid dividends. A declared dividend of $0.50 per share,
for the current quarterly dividend period from and including
November 15, 2017 to but excluding February 15, 2018 will be paid
separately in the customary manner on February 15, 2018 to holders
of record of the Series A Preferred Stock as of January 31,
2018.
Upon redemption, the Series A Preferred Stock
will no longer be deemed outstanding, no further dividends will
accrue on the Series A Preferred Stock and the only remaining right
of the holders of the Series A Preferred Stock will be to receive
payment of the Redemption Price, without interest. Trading of
the Series A Preferred Stock on the NASDAQ Stock Market also will
cease.
The redemption will be funded with a portion of
the net proceeds of the Company’s public offering of depositary
shares, each representing a 1/40th interest in a share of the
Company’s 6.00% Non-Cumulative Perpetual Preferred Stock, Series C,
which was completed on November 22, 2017.
All shares of the Series A Preferred Stock are
held in book-entry form through The Depository Trust Company
(“DTC”). Accordingly, the Series A Preferred Stock will be redeemed
in accordance with the applicable procedures of DTC. Notice
of the redemption and payment of the aggregate Redemption Price
will be made to DTC on the Company’s behalf by Computershare, as
redemption agent (the “Redemption Agent”). The address of the
Redemption Agent is Attention: Corporate Actions, 250 Royall
Street, Canton, MA 02021, and its telephone number is
1-866-241-9990 (1-201-680-6578 outside the United States and
Canada). Questions regarding the redemption of the Series A
Preferred Stock may be directed to the Redemption Agent.
MB Financial, Inc. is the Chicago-based holding
company for MB Financial Bank, N.A. (“MB”) which has approximately
$20 billion in assets and a more than one hundred year history of
building deep and lasting relationships with middle-market
companies and individuals. MB offers a full range of powerful
financial solutions and the expertise and experience of bankers who
are focused on their clients’ success. Learn more about MB by
visiting www.mbfinancial.com.
Safe Harbor Statement: Statements in this press
release that are not historical facts are "forward-looking
statements" within the meaning of the Private Securities Litigation
Reform Act of 1995. By their nature, such statements are subject to
numerous factors that could cause actual results to differ
materially from those anticipated in the statements, as discussed
in MB Financial’s filings with the Securities and Exchange
Commission. You should not place undue reliance on any
forward-looking statements and MB Financial undertakes no
obligation to update any such statements to reflect circumstances
or events that occur after the date on which the forward-looking
statement is made.
For Information at MB Financial, Inc.
contact:Berry Allen - Investor
RelationsE-Mail:
beallen@mbfinancial.com
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