$125M securities deal to help BancorpSouth

By NEMS Daily Journal

TUPELO – BancorpSouth is redeeming $125 million in trust-preferred securities on Aug. 12.
The company said it would use $75 million in cash and $50 million in debt to fund the buyback.
The move is expected to save BancorpSouth $9.1 million in annual interest expense, and the company will take a $2.9 million charge in the third quarter.