Popular planning to price offering of senior notes

By Aleesia Forni

Virginia Beach, June 26 – Popular, Inc. is set to price an offering of senior notes, according to a 424B2 filed with the Securities and Exchange Commission.

J.P. Morgan Securities LLC, Goldman, Sachs & Co., Barclays, BofA Merrill Lynch, Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., Drexel Hamilton , Guggenheim Securities, Keefe Bruyette & Woods, Nomura, Popular Securities, RBC Capital Markets LLC, Sandler O’Neill & Partners, LP, Sterne Agee and Wells Fargo Securities LLC are the banks on the deal.

Proceeds will be used to redeem $936 million of the company’s junior subordinated debentures currently held by Popular Capital Trust III, and consequently redeem $935 million of capital securities currently held by the Department of the Treasury.

Popular is a financial services provider based in San Juan, Puerto Rico.

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