By Stephanie N. Rotondo
Portland, Ore., April 18 - First PacTrust Bancorp Inc. priced $33 million of 7.5% $25-par senior notes due April 15, 2020, the company said in an FWP filing with the Securities and Exchange Commission on Wednesday.
Sandler O'Neil + Partners LP is the bookrunning manager. D.A. Davidson & Co., Stern Agee & Leach Inc. and Wunderlich Securities Inc. are the co-lead mangers. FIG Partners LLC is the co-manager.
The deal was first announced April 10.
The public offering price is par. The underwriters received a $1 discount per note.
Interest will be paid quarterly on the 15th of January, April, July and October beginning July 15.
The bank can redeem the notes on April 15, 2015 or at any time thereafter.
First PacTrust will apply to list the notes on the Nasdaq Global Market. Settlement is expected Monday.
Proceeds will be used for possible acquisitions, to support organic growth, to make investments in or extensions of credit to subsidiaries, to invest in securities and for general corporate purposes.
First PacTrust is based in Irvine, Calif.
| Issuer: | First PacTrust Bancorp Inc.
|
| Securities: | Senior notes
|
| Amount: | $33 million
|
| Maturity: | April 15, 2020
|
| Coupon: | 7.5%, payable quarterly
|
| Price: | $25
|
| Call option: | On or after April 15, 2015
|
| Bookrunner: | Sandler O'Neil + Partners LP
|
| Co-lead managers: | D.A. Davidson & Co., Stern Agee & Leach Inc. and Wunderlich Securities Inc.
|
| Co-manager: | FIG Partners LLC
|
| Pricing date: | April 18
|
| Settlement date: | April 23
|
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