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Private Bancorp plans $75 million offering of trust preferred securities
By Andrea Heisinger
Omaha, May 9 - Private Bancorp Capital Trust IV announced a $75 million offering of trust preferred securities, according to a press release from the company and a 424B2 filing with the Securities and Exchange Commission.
There is an $11.25 million over-allotment option.
The securities will have a final repayment of June 15, 2068 and will be priced at par of $25.
They will be callable beginning June 15, 2013.
Proceeds will be used to support continued growth under the company's strategic growth plan and for general corporate purposes.
Bookrunners are Stifel Nicolaus, RBC Capital Markets and Robert W. Baird & Co.
Co-managers are Raymond James, William Blair & Co. and Keefe, Bruyette & Woods, Inc.
The financial services company is based in Chicago.
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