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Franklin Financial Services Corporation (NASDAQ:FRAF), currently trading at $45.12 and showing a remarkable 52% gain year-to-date, announced Monday that it will redeem a portion of its outstanding 5.00% Fixed to Floating Rate Notes due September 1, 2030. The company, which InvestingPro analysis indicates is trading above its Fair Value, notified holders that the redemption will take place on September 30, 2025.
According to the company’s statement in a recent SEC filing, the aggregate principal amount subject to redemption is $9 million. The redemption price will be 60% of the aggregate principal amount of the notes, plus accrued and unpaid interest up to but excluding the redemption date.
Franklin Financial Services stated that it will use excess cash on hand to fund the redemption payment.
This information is based on a press release statement included in the company’s Form 8-K filing with the Securities and Exchange Commission.
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