About Popular Capital Trust I PFD 6.70% GTD
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Latest news about Popular Capital Trust I PFD 6.70% GTD (BPOPN) common stock and company :
Popular, Inc. (the “Corporation,” “Popular,” “we,” “us,” “our”) (NASDAQ:BPOP) reported net income of $248.1 million for the quarter ended September 30, 2021, compared to net income of $218.1 million for the quarter ended June 30, 2021.
Popular, Inc. (“Popular”) (NASDAQ: BPOP) announced today that it has sent a redemption notice to The Bank of New York Mellon, the Property Trustee for Popular Capital Trust I (the “Trust”), to redeem, on November 1, 2021, all outstanding 6.70% Cumulative Monthly Income Trust Preferred Securities (the “Capital Securities”) issued by the Trust (liquidation amount of $25 per security and amounting to $186,663,800 (or $181,063,250 after excluding Popular’s participation in the Trust of $5,600,550) in the aggregate). The redemption price for the Capital Securities will be equal to $25 per security plus accrued and unpaid distributions up to and excluding the redemption date in the amount of $0.139583 per security, for a total payment per security in the amount of $25.139583. Upon redemption, Popular intends to apply for delisting of the Popular Capital Trust I (NASDAQ: BPOPN) from the Nasdaq Global Select Market.
Rating Action: Moody's upgrades Popular Inc.'s long-term senior unsecured rating to Ba3 from B1, concluding review; outlook stableGlobal Credit Research - 22 Apr 2021New York, April 22, 2021 -- Moody's Investors Service, ("Moody's") has upgraded the ratings of Popular, Inc. (Popular) including the long-term senior unsecured rating to Ba3 from B1 and the ratings and assessments of its bank subsidiary, Banco Popular De Puerto Rico, including the long-term deposit rating to Baa3 from Ba1 and the standalone baseline credit assessment to ba2 from ba3. While the bank's short-term deposit rating was upgraded to Prime-3 from Not Prime, its short-term counterparty risk rating and short-term counterparty risk assessment were confirmed at Not Prime and Not Prime(cr), respectively.