Oriental Financial offers series D noncumulative perpetual preferreds

By Stephanie N. Rotondo

Phoenix, Oct. 19 - Oriental Financial Group Inc. intends to issue series D noncumulative perpetual preferred stock, the company said in a prospectus filed with the Securities and Exchange Commission on Friday.

When declared, dividends will be payable quarterly. The preferred stock will become redeemable upon a certain as-of-yet unspecified date or in whole within 90 days of a regulatory capital treatment event.

The San Juan, Puerto Rico-based firm will apply to list the new preferred shares on the New York Stock Exchange.

Jeffries & Co. Inc. and Oriental Financial Services are leading the deal.

Proceeds will be used to fund a portion of the purchase price for the company's BBVAPR Holding Corp. acquisition. Any remaining funds will be used for general corporate purposes.

Oriental Financial is a diversified financial holding company.

© 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.