Texas Capital's 6.5% perpetual preferreds slated to hit Nasdaq

By Stephanie N. Rotondo

Phoenix, April 9 - Texas Capital Bancshares Inc.'s $150 million of 6.5% series A noncumulative perpetual preferred stock is expected to list on the Nasdag Global Select Market on Wednesday.

The ticker symbol is "TCBIP."

The deal priced March 21.

Morgan Stanley & Co. LLC, BofA Merrill Lynch and J.P. Morgan Securities LLC were the joint bookrunning managers.

The bank can call the preferreds in whole or in part on or after June 15, 2018 or in whole within 90 days of a regulatory capital treatment event. The redemption price in either instance is par.

Proceeds will be used for general corporate purposes.

Texas Capital is based in Dallas.

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