World News: 21:58 GMT Tuesday 14th January 2020. [The Community Financial Corporation via Globe Newswire via SPi World News]
WALDORF, Md., Jan. 14, 2020 (GLOBE NEWSWIRE) -- The Community Financial Corporation (NASDAQ: TCFC) (the “Company”), the holding company for Community Bank of the Chesapeake (the “Bank”), today announced the redemption of $23.0 million principal amount of its 6.25% Subordinated Debt Securities due February 15, 2025 (the “Subordinated Notes”) issued by the Company. The redemption date for the Subordinated Notes is February 15, 2020 (the “Redemption Date”). The Company expects to fund the redemption with approximately $10.7 in net proceeds from its December 31, 2019 private placement offering of common stock and a cash dividend from the Bank.
The redemption price for each of the Subordinated Notes will equal a price equal to 100% of the principal amount to be redeemed plus any accrued and unpaid interest thereon. All interest accruing on the Subordinated Notes called for redemption will cease to accrue on and after the Redemption Date.
William J. Pasenelli, Chief Executive Officer Todd L. Capitani, Chief Financial Officer(888) 745-2265
Globe Newswire: 21:58 GMT Tuesday 14th January 2020
SPi News is published by Sector Publishing Intelligence Ltd.
© Sector Publishing Intelligence Ltd 2020. [Admin Only]
Sector Publishing Intelligence Ltd.
Agriculture House, Acland Road, DORCHESTER, Dorset DT1 1EF United Kingdom
Registered in England and Wales number 07519380.