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.

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