Published on 6/23/2014 in the Prospect News Investment Grade Daily and Prospect News Preferred Stock Daily.
New Issue: People’s United sells $400 million 4% 10-year subordinated notes
By Aleesia Forni
Virginia Beach, June 23 – People’s United Bank, a wholly owned subsidiary of People's United Financial, Inc., was in the market Monday with a $400 million sale of 4% 10-year subordinated notes, according to a company press release.
Jefferies & Co. was the bookrunner.
The bank and financial services company is based in Bridgeport, Conn.
| Issuer: | People’s United Bank
|
| Issue: | Subordinated notes
|
| Amount: | $400 million
|
| Maturity: | July 15, 2024
|
| Bookrunner: | Jefferies & Co.
|
| Co-managers: | Goldman Sachs & Co., J.P. Morgan Securities LLC
|
| Coupon: | 4%
|
| Trade date: | June 23
|
| Settlement date: | June 26
|
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