CoBank is one of the largest American cooperative banks serving rural America. Recently, the company said its shareholders approved a plan to issue up to $250 million in preferred stock in 2008 or 2009.The stock may be issued in one or more issuances, the firm said, and in addition, CoBank shareholders also agreed to amend bank bylaws to increase the amount of preferred stock it can issue to $1 billion from $500 million. The bank has already issued $500 million in preferred stock since 2001 along with $500 million in subo[...]
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[Source: The Money Blogs]
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