Published on 10/30/2003 in the Prospect News Convertibles Daily.
New Issue: First Regional $15 million convertibles yield 6%, up 8%
New York, Oct. 30 - First Regional Bancorp priced $15 million of 20-year convertible subordinated debentures to yield 6% with an 8% initial conversion premium.
The Century City, Calif. bank holding company said it will invest the majority of the proceeds in its First Regional Bank subsidiary to support its continued growth. Remaining proceeds will be used for general corporate purposes.
Issuer: | First Regional Bancorp
|
Issue: | Convertible subordinated debentures
|
Amount: | $15 million
|
Maturity: | 2023
|
Coupon: | 6%
|
Price: | Par
|
Yield: | 6%
|
Conversion premium: | 8%
|
Conversion price: | $27.50
|
Conversion ratio: | 36.36
|
Call: | Oct. 30, 2007 on wards at par
|
Pricing date: | Oct. 29
|
Distribution: | Regulation D/Regulation S
|
|
© 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.