Popular announces plans for $350 million preferred stock offering

By Andrea Heisinger

Omaha, May 14 - Popular, Inc. announced more details about its upcoming $350 million offering of non-cumulative monthly income preferred stock, according to a 424B2 filing with the Securities and Exchange Commission.

The 14 million perpetual shares will be priced at $25 and are callable on or after May 2013.

Bookrunners are UBS Financial Services Inc. of Puerto Rico and Popular Securities.

Co-manager is Citigroup Global Markets Inc.

Proceeds will be used for general corporate purposes.

The financial services company is based in Hato Rey, Puerto Rico.

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