Private Bancorp plans issue of 3 million trust preferreds talked at 10% area

By Andrea Heisinger

Omaha, May 12 - Private Bancorp Capital Trust IV's upcoming issue of trust preferred securities is talked in the 10% area, according to details provided Monday in an FWP Securities and Exchange Commission filing.

PrivateBancorp Inc. will sell via the trust price 3 million 60-year securities at $25. They will be callable starting June 15, 2013.

Bookrunners are Stifel Nicolaus & Co., Inc. and RBC Capital Markets Corp. with lead manager Robert W. Baird & Co.

Co-managers are Raymond James, William Blair & Co. and Keefe, Bruyette & Woods, Inc.

Proceeds will be used for continued growth and general corporate purposes.

The financial services company is based in Chicago.

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