Webster Bank tenders for $200 million 5 7/8% notes

By Susanna Moon

Chicago, March 10 - Webster Bank, NA said it began a fixed-price cash tender offer for any and all of its outstanding $200 million principal amount of 5 7/8% subordinated notes due 2013.

The bank is a wholly owned subsidiary of Webster Financial Corp.

Webster said it will pay $800 per $1,000 principal amount of the notes plus accrued interest up to the settlement date.

The offer will expire at 5 p.m. ET on March 18. The payment date is expected to be on March 20.

The Waterbury, Conn.-based bank said it expects to use available cash to pay for the notes.

Global Bondholder Services Corp. (866 470-4200 or banks and brokers 212 430-3774) is the information agent.

J.P. Morgan Securities Inc. (866 834-4666) is the dealer manager.

© 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.