A Couple of Calls – 1 Preferred and 1 Baby Bond

Late Tuesday TCF Financial (NYSE:TCF) announced they would redeem their 6.45% TCF-B perpetual preferred stock on 3/1/2018.  There are 4,000,000 shares outstanding.  Redemption will be the usual terms–$25 plus accrued dividends.

Additionally REIT Equity Commonwealth (NYSE:EOC) called their 5.75% baby bonds (NYSE:EQCO) which became callable on 8/1/2017 and had a maturity date of 8/1/2042.  The call date is 3/7/2018 for $25/share plus accrued interest.