Credit card direct marketer Metris Cos. Inc., St. Louis Park, MN, has received approval from the U.S. Comptroller of the Currency to exchange $200 million of Series B Perpetual Preferred Stock, $100 million of Senior Notes and 10-year warrants for $300 million of Series C Perpetual Preferred Stock. The exchange is expected to be completed by the end of the second quarter and will result in a $100 million increase to Metris’ equity capital base.
The U.S. Postal Service will hold its first national meeting with executives from all segments of the periodical mailing industry, including direct mailers and nonprofit publishers, August 11 and 12 at the Ambassador West Hotel, Chicago.
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