LOS ANGELES, July 20, 2012 (GLOBE NEWSWIRE) -- CapitalSource Inc. (the "Company") today announced that it has redeemed $14,523,000 in aggregate principal amount of the Company's 7.250% Senior Subordinated Convertible Notes due 2037 (the "Notes"), representing 100% of the outstanding Notes (the "Redemption"). The redemption price was equal to $1,000 per $1,000 principal amount of the Notes, plus accrued and unpaid interest.
Previously, on July 16, 2012, pursuant to the terms set forth in the Company Notice to Holders of 7.250% Senior Subordinated Convertible Notes due 2037, dated June 15, 2012, and the Tender Offer Statement on Schedule TO filed with the Securities and Exchange Commission on June 15, 2012 and amended on July 11, 2012, the Company repurchased $8,705,000 in aggregate principal amount of the Notes, representing approximately 37% of the Notes then outstanding (the "Tender Offer").
Following the consummation of the Tender Offer and the Redemption, no Notes remain outstanding.
About CapitalSource:
CapitalSource Inc. (NYSE:CSE), through its wholly owned subsidiary CapitalSource Bank, makes commercial loans to small and middle-market businesses nationwide and offers depository products and services in 21 retail branches in southern and central California. CapitalSource, headquartered in Los Angeles, had total assets of $8.3 billion and total deposits of $5.3 billion as of March 31, 2012. For more information, visit www.capitalsource.com.