BofI Holding greenshoe exercised, 6.25% notes upsized to $51 million

By Tali Rackner

Norfolk, Va., March 24 – Underwriters for BofI Holding Inc.’s 6.25% subordinated notes that mature on Feb. 28, 2026 partially exercised their over-allotment option, adding $6 million, according to an 8-K filing with the Securities and Exchange Commission.

The company priced $45 million of the $25-par notes on Feb. 26.

As previously reported, joint bookrunners were FBR Capital Markets & Co. and Keefe, Bruyette & Woods Inc. Co-managers were BB&T Capital Markets, D.A. Davidson & Co., Janney Montgomery Scott LLC, Oppenheimer & Co. Inc. and Wunderlich Securities Inc.

The notes are non-callable for five years. After Feb. 28, 2021, the company may redeem the notes, in whole or in part, at par plus interest.

Proceeds will be used for general corporate purposes, for possible future acquisitions and growth opportunities, for possible common stock share repurchases and to provide new capital to the bank to support its growth.

The notes received a BBB rating from Kroll Bond Rating Agency.

BofI has applied to list the notes on the Nasdaq Global Select Market under the symbol “BOFIL.”

San Diego-based BofI is the holding company for Bank of Internet USA, a savings bank that operates primarily through the internet.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.