Midday Commentary: Oriental Financial's new deal a no-show; Goldman's recent deal falls back

By Stephanie N. Rotondo

Phoenix, Oct. 19 - Rumors that were swirling on Thursday about a possible new deal coming Friday came to fruition, as Oriental Financial Group Inc. announced plans to launch a sale of series D noncumulative perpetual preferreds.

However, a trader said he had neither seen any details on the proposed deal, nor any markets.

"It's pretty quiet," he said of the market generally.

Jeffries & Co. Inc. and Oriental Financial Services are leading the deal.

Proceeds will be used to fund a portion of the purchase price for the company's BBVAPR Holding Corp. acquisition. Any remaining funds will be used for general corporate purposes.

Meanwhile, the Goldman Sachs Group Inc.'s recently priced 5.95% series I noncumulative perpetual preferreds were coming in a bit, as a trader pegged the paper at $25.02.

The deal priced Wednesday.

And, PrivateBancorp Inc.'s recent $125 million of 7.125% $25-par subordinated debentures due 2042 continued to hang out in the $25.50 area, according to a trader.

That deal came Oct. 11.

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