By Susanna Moon
Chicago, Dec. 12 - Washington Federal, Inc. registered $200 million fixed-rate cumulative perpetual series A preferred shares sold to the U.S. Treasury under the Troubled Asset Relief Program for public trading, according to an S-3 filing with the Securities and Exchange Commission.
The preferreds pay dividends at 5% per year until Nov. 15, 2013, when they step up to 9%.
Also covered is a $30 million warrant to purchase 1,707,456 common shares exercisable at $17.57 per share until Nov. 14, 2018.
The company said it will not receive any proceeds from any sale of the securities.
Seattle-based Washington Federal is the holding company for Washington Federal Savings, a savings and loan company.
| Issuer: | Washington Federal, Inc.
|
| Issue: | Cumulative perpetual series A preferred shares
|
| Amount: | $200 million
|
| Maturity: | Perpetual
|
| Dividend: | 5%, steps up to 9% after Nov. 15, 2013
|
| Warrant: | For 1,707,456 shares
|
| Warrant exercise price: | $17.57
|
| Warrant expiration: | Nov. 14, 2018
|
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