RE:Banks & Institutions BBD, happy to help. While the story here keeps getting better and better, investor appreciation of it continues to lag. I think a big part of that is cold feet from investors and most analysts who got badly burned in the past. Which of course allows the continued opportunity to the unjaded.
Best I can tell, Thursday's earnings release included a surprise of $100M of debt repaid in Q3 (technically, $98M in Q3 and $8M in Q4, per footnote 5). So, late Friday's $200M tender is incremental to that. They prob felt the new 5 yr &300M revolver gave them the room to do another $200M now.