Business New Haven

People’s Sells Notes

BRIDGEPORT - People's Bank (NASDAQ: PBCT) announced November 14 that it had sold $150 million of subordinated notes, due November 15, 2010. The notes will pay interest semi-annually at the rate of 9.875 percent per year. The notes represent the unsecured obligations of People's Bank, subordinate to its obligations to depositors and other senior creditors. People's has been advised by the FDIC that the notes will be eligible for inclusion as Tier 2 capital, and
 

People’s To Raise $150m Through Subordinated Debt Securities

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Should Connecticut Give Special Incentives to Individual Companies?
 

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