Union Planters completes offering.MEMPHIS Memphis, city, ancient Egypt Memphis (mĕm`fĭs), ancient city of Egypt, capital of the Old Kingdom (c.3100–c.2258 B.C.), at the apex of the Nile delta and 12 mi (18 km) from Cairo. , Tenn.--(BUSINESS WIRE)--Dec. 13, 1996--Union Planters Corp. ("Union Planters") today announced that it has completed a $200 million offering of 8.20 percent Capital Trust Pass-through Securities Pass-through securities A pool of fixed income securities backed by a package of assets (i.e., mortgages) where the holder receives the principal and interest payments. Related: Mortgage pass-through security ("TRUPS TRUPS Capital Trust Pass-Through Securities "(SM)) through Union Planters Capital Trust A in an institutional private placement. Union Planters expects the TRUPS to qualify as Tier 1 capital Tier 1 Capital A term used to describe the capital adequacy of a bank. Tier I capital is core capital, this includes equity capital and disclosed reserves. Notes: Equity capital includes instruments that can't be redeemed at the option of the holder. for regulatory purposes. Proceeds of the transaction will be used for general corporate purposes. The TRUPS have not been registered under the Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from registration. Union Planters is a multistate bank holding company headquartered in Memphis, Tenn. with approximately 441 locations in Tennessee, Mississippi, Missouri, Arkansas, Louisiana, Alabama and Kentucky. On an historical basis, at Sept. 30, 1996, Union Planters had total consolidated assets of approximately $11.5 billion. On a pro forma basis, giving effect to acquisitions consummated subsequent to Sept. 30, 1996, Union Planters had total consolidated assets of $15.6 billion at Sept. 30, 1996. -0- (SM) Applications have been filed with the United States Patent and Trademark office The United States Patent and Trademark Office (PTO or USPTO) is an agency in the United States Department of Commerce that provides patent protection to inventors and businesses for their inventions, and trademark registration for product and intellectual property for the registration of the "Capital Trust Pass-through Securities" and "TRUPS" service marks. CONTACT: Union Planters Corp. Jack W. Parker, 901/580-6781 |
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