Seeking Alpha

Popular completes repayment of TARP funds

  • "We bring to a close a difficult chapter in our history and we emerge as a stronger and more focused institution," says BPOP CEO Richard Carrion after repurchasing $935M of trust capital securities issued to the Treasury in 2008 in exchange for TARP bailout funds.
  • The bank also offers to repurchase the warrant issued to Treasury, representing the right to purchase 2.093M shares of Popular at $67 each.
  • Source: Press Release
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