Irwin Financial Corporation Announces Issuance of $31.50 Million of Trust Preferred Securities
April 05 2006 - 5:15PM
PR Newswire (US)
COLUMBUS, Ind., April 5 /PRNewswire-FirstCall/ -- Irwin Financial
Corporation (NYSE:IFC) today announced that it has completed a
private placement of $31.50 million of trust preferred securities
issued by IFC Capital Trust IX. The securities mature in 2036, bear
interest at a fixed rate of 6.69% for the first five years and then
convert to a variable interest rate of three month LIBOR plus 149
basis points thereafter, and are callable at the option of the
company at par after five years. The issuance replaces virtually
all of Irwin's 8.75% Convertible Trust Preferred securities that
were redeemed March 6, 2006. The newly issued trust preferred
securities have not been registered under the Securities Act and
may not be offered or sold in the United States absent registration
or an exemption from the registration requirements. This notice
does not constitute an offer to sell or the solicitation of an
offer to buy the securities. About Irwin Financial Irwin(R)
Financial Corporation (http://www.irwinfinancial.com/ ) is a bank
holding company with a history tracing to 1871. The Corporation,
through its principal lines of business -- Irwin Union Bank, Irwin
Commercial Finance, Irwin Home Equity Corporation and Irwin
Mortgage Corporation -- provides a broad range of financial
services to consumers and small businesses in selected markets in
the United States and Canada. DATASOURCE: Irwin Financial
Corporation CONTACT: Suzie Singer, Corporate Communications,
+1-812-376-1917, or Greg Ehlinger, Chief Financial Officer,
+1-812-379-7603, both of Irwin Financial Corporation Web site:
http://www.irwinfinancial.com/
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