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MB Financial to redeem $40M in trust preferred securities

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MB Financial to redeem $40M in trust preferred securities

TAYC Capital Trust II will redeem all of its issued and outstanding preferred securities Sept. 17. The redemption price is $40.0 million plus accrued and unpaid interest to the redemption date, which is approximately $500,000.

Concurrently, MB Financial Inc. will redeem its floating-rate deferrable interest debentures due 2034, all of which are held by the trust.

MB Financial obtained its interest in TAYC Capital Trust II via its 2014 acquisition of Taylor Capital Group Inc.