BancorpSouth Files Registration Statement for a Public Offering of $75 Million of Capital Securities.TUPELO, Miss.--(BUSINESS WIRE)--Aug. 28, 1997--BancorpSouth Inc. (NYSE NYSE See: New York Stock Exchange :BXS BXS Brussels Stock Exchange BXS Bronx X-Ray Server ) announced today that it has filed a registration statement with the Securities and Exchange Commission relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc a proposed offering of $75 million of capital securities by BancorpSouth Capital Trust I, a wholly owned, statutory business trust subsidiary of the company. The offering will be managed by Salomon Brothers Inc. and Keefe, Bruyette & Woods Inc. The proceeds from the offering will be invested by BancorpSouth Capital Trust I in junior subordinated debt Subordinated Debt A loan (or security) that ranks below other loans (or securities) with regard to claims on assets or earnings. Also known as "junior security" or "subordinated loan". securities issued by the company. The company will use the net proceeds Net Proceeds The amount received after all costs are deducted from the sale of a piece of property or security. Notes: In the case of an investor selling a security, net proceeds represent the proceeds from the sale minus any trading costs (i.e. commissions). from issuance of the junior subordinated debt securities for general corporate purposes, including, from time to time, redemption or purchase of outstanding shares of the company's commmon stock, advances to the company's subsidiaries and in connection with one or more future acquisitions. The company has not yet determined the date on which the offering may commence or be completed. A registration statement relating to the securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. A prospectus relating to these securities may be obtained from Salomon Brothers Inc., Seven World Trade Center, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , N.Y. 10048 or Keefe, Bruyette & Woods Inc., Two World Trade Center, New York, N.Y. 10048. CONTACT: BancorpSouth Inc., Tupelo L. Nash Allen Jr., 601/680-2330 |
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