Cash-flush Webster Bank is offering to buy back $177.5 million of its debt, retiring a batch of outstanding notes a year early that would leave it debt free, authorities say.
The Waterbury regional lender is offering $1,035 cash for every $1,000 principal amount outstanding on its 5.875 percent subordinated notes due 2013. The offer expires Monday.
It was unclear how much debt Webster will have after the offer. The bank did not immediately respond Tuesday to a call for comment.
