According to a December 9, 2008 Reuters article, Regions Bank, part of Regions Financial Corp, on Monday launched a $3.5 billion, four-part debt sale that will be guaranteed by the Federal Deposit Insurance Corp.
The sale includes $1 billion in two-year fixed rate notes and $1.75 billion in three-year fixed rates notes. The Bank is also selling $250 million of 18-month floating rate notes and $500 million in two-year floating rate notes. Barclays Capital, Credit Suisse, Goldman Sachs and Morgan Keegan are co-managing the sale.
There is no word as to how much of Regions’ cash crunch was caused by Regions’ brokerage arm Morgan Keegan which is embroiled in litigation related to the RMK Bond and Income Funds.
If you have lost money related to the RMK Funds, please contact our office for a free case evaluation.