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Resource Capital subsidiary gets $84.3M in LEAF Commercial deal

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Resource Capital subsidiary gets $84.3M in LEAF Commercial deal

In connection with People's United Bank NA's acquisition of LEAF Commercial Capital Inc., Resource Capital Corp. subsidiary RCC TRS LLC received $84.3 million in cash proceeds for its shares of preferred stock.

The company had 31,341 shares of series A redeemable preferred stock, 8,127 shares of series A-1 redeemable preferred stock, 4,872 shares of series B redeemable preferred stock and 2,364 shares of series D redeemable preferred stock.

As of March 31, Resource Capital's total investment in LEAF Commercial Capital was carried on its balance sheet as an investment in unconsolidated entities at $43.1 million.