| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers P > Headlines for PrivateBancorp Inc. > News item |
PrivateBancorp plans offering of $25-par subordinated debt due 2042
By Stephanie N. Rotondo
Phoenix, Oct. 11 - PrivateBancorp Inc. intends to sell $25-par subordinated debentures due Oct. 30, 2042, the company said in a prospectus filed with the Securities and Exchange Commission on Thursday.
Price talk is 7.375% to 7.5%, a trader said.
Joint bookrunners are Morgan Stanley & Co. Inc. and Wells Fargo Securities LLC.
The company will have the option of redeeming the notes starting Oct. 30, 2017.
Interest will be paid on the 30th day of January, April, July and October, beginning Jan. 30, 2013.
PrivateBancorp will apply to list the notes on the New York Stock Exchange under the ticker symbol "PVTD."
Proceeds will be used to redeem $243.8 million of series B fixed rate cumulative preferreds that were issued to the U.S. Department of the Treasury under the Troubled Asset Relief Program.
PrivateBancorp is a bank holding company based in Chicago.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.