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Security Details
- Coupon Rate
- 7.88%
- Liquidation Preference
- $25.00
- Call Price
- $25.00
- Call / Redemption Date
- 10/1/2008
- Maturity Date
- 10/1/2033
- Distribution Period
- Q
- Rate Type
- Fixed
- Annual Distribution
- 1.97
- Distribution Dates
- 1/1, 4/1, 7/1 & 10/1
- Credit Ratings
- Moody's WR · S&P NF (3/19/2024)
- Tax-Advantaged Dividends
- No
Security Profile
Security's distribution is suspended.
- CUSIP
- 19560Q203
- Market Cap
- Micro Cap · $100 Million
- IPO
- 9/11/2003 · $25.00/share
- Previous Symbol
- CNB-B (changed 8/17/2009)
- Parent Company
- Colonial BancGroup, Inc. (CBCGQ*)
Business: Colonial Capital Trust IV, 7.875% Preferred Securities, liquidation amount $25 per share, guaranteed by The Colonial BancGroup Inc. (NYSE: CNB) (See our definition of Guaranteed in our Glossary of Income Investing Terms for the technicalities of the guarantee), redeemable at the issuer's option on or after 10/01/2008 at $25 per share plus accrued and unpaid dividends, and maturing 10/01/2033. Distributions of 7.875% ($1.96875) per annum are paid quarterly on 1/1, 4/1, 7/1 & 10/1 to holders of record one business day prior to the payment date while the securities remain in book-entry form (NOTE: the ex-dividend date is one business day prior to the record date). The company has the right, at any time, to defer dividend payments for up to 20 consecutive quarters (but not beyond the maturity date). The trust's assets consist of the 7.875% Junior Subordinated Deferrable Interest Debentures due 10/01/2033 which were purchased from the company using the funds generated from the sale of the trust preferred securities. See the IPO prospectus for further information on the trust preferred securities by clicking on the ‘Link to IPO Prospectus’ provided below.
Notes: On August 25, 2009, The Colonial BancGroup, Inc. (the Company) filed a voluntary petition for relief under Chapter 11 of Title 11 of the United States Code in the United States Bankruptcy Court for the Middle District of Alabama, Northern Division. The Company filed the Chapter 11 petition following the appointment by the Alabama State Banking Department of the Federal Deposit Insurance Corporation as receiver of Colonial Bank, the Company’s wholly owned bank subsidiary and primary asset, on August 14, 2009.
Company Contact
- CEO
- Robert E. Lowder
- CFO
- Sarah H. Moore
- Headquarters
- 100 Colonial Bank Blvd., Montgomery, AL 36117
- Phone
- 334-676-5000 · Toll-Free 888-843-0622
- Fax
- 334-676-5069
- Investor Relations
- Lisa M. Free · 334-676-5105 · investor_relations@colonialbank.com