YOUR BUSINESS AUTHORITY
Springfield, MO
YOUR BUSINESS AUTHORITY
Springfield, MO
The securities, issued through Great Southern Capital Trust II, will have a floating distribution rate equal to the 90-day London Interbank Offered Rate plus 1.6 percent, according to a Great Southern news release.
The securities are redeemable, at Great Southern’s option, in whole or part beginning Feb. 1, 2012, and mature on Feb. 1, 2037 if not redeemed earlier.
The company used a portion of the proceeds to fund the redemption price of the 9 percent Cumulative Trust Preferred Securities of Great Southern Capital Trust, which had a $17.25 million aggregate liquidation amount that also was redeemed Tuesday.
Remaining proceeds will be used to augment the regulatory capital of the company and for general corporate purposes, according to the release.
Great Southern has $2.2 billion in assets and operates 37 retail banking branches in Missouri and loan production offices in Columbia, St. Louis, Kansas and Arkansas.
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