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SVB Financial to redeem debentures for $51.5M

SVB Financial Group expects to redeem on Dec. 21 the company's 7% junior subordinated debentures. The aggregate redemption amount is pegged at $51.5 million, plus interest.

The debentures, which would have been due Oct. 15, 2033, relate to the 7% trust preferred securities issued by SVB Capital II. The TruPS will also be redeemed.