Golden State Bancorp Redeems $350 Million in Debt.Business Editors SAN FRANCISCO--(BUSINESS WIRE)--Aug. 1, 2001 Golden State Bancorp Inc. (NYSE NYSE See: New York Stock Exchange :GSB GSB Graduate School of Business (Stanford) GSB Graduate School of Business (Chicago) GSB Government of the Student Body (Iowa State University, Ames, IA) ) today announced redemption at maturity of $350 million in debt. The 6 3/4% Senior Notes were issued in 1998 by Golden State Holdings, an indirect, wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Golden State Bancorp, to fund, in part, the refinancing transactions that occurred following First Nationwide Holdings' acquisition of Golden State Bancorp. "Our ability to pay this debt at maturity with cash demonstrates the capital strength of Golden State Bancorp and the success of the merged company," said Fred Cannon, executive vice president and director of Investor Relations Investor relations The process by which the corporation communicates with its investors. . Holding company tangible capital was $12.07 per share on June 30, 2001, up from $5.23 per share on September 30, 1998, after the close of the merger. Based in San Francisco, Golden State Bancorp is the publicly traded parent of California Federal Bank California Federal Bank, often abbreviated to "Cal Fed", was a savings and loan bank in California. It existed from 1926 until 2002, when its parent company Golden State Bancorp was acquired by Citigroup, resulting in the bank being merged into Citibank. . Cal Fed is the second-largest California-based insured depository institution, with $61 billion in assets and 355 branches in California and Nevada. Cal Fed is a full-service, community-oriented bank serving consumers and business customers. For more information, see our Internet Web sites at http://www.goldenstate.com and http://www.calfed.com. |
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