KeyCorp Completes Repurchase of TARP Capital (KEY)

KeyCorp KEY announced today that it completed the repurchase of $2.5 billion of Fixed-Rate Perpetual Preferred Stock, Series B issued to the U.S. Department of the Treasury as a result of Key's participation in the Capital Purchase Program of the Troubled Asset Relief Program (TARP). The transaction follows Key's successful completion of a $625 million common equity offering and a $1 billion debt offering.