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Citizens Financial Group last week announced a plan to repurchase $125 million in subordinated debt.

In a transaction slated to close today, the holding company for Citizens Bank will repurchase $125 million worth of its 4.023 percent subordinated notes due 2024.

“This transaction is part of a multiyear strategy designed to enhance the efficiency of our balance sheet and capital structure,” CFO Eric Aboaf said in a statement. “We believe this repurchase provides Citizens attractive financial benefits, moves our Tier 2 capital levels closer to peers and leaves us plenty of flexibility for our 2016 CCAR submission.”

Citizens To Repurchase $125M Of Subordinated Debt

by Banker & Tradesman time to read: <1 min
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