Wintrust Financial to price $200 million tangible equity units at 7.125%-7.625%, up 22.5%-27.5%

By Rebecca Melvin

New York, Dec. 6 - Wintrust Financial Corp. planned to price $200 million of tangible equity units, with a par price of $50 each, after the market close Tuesday, that were talked to yield 7.125% to 7.625% with an initial conversion premium of 22.5% to 27.5%, according to a syndicate source.

The registered offering has a $30 million greenshoe and is being sold via bookrunner Bank of America Merrill Lynch, with co-managers RBC Capital Markets, Sandler O'Neill + Partners LP and Wells Fargo Securities.

Wintrust also planned to sell a common stock add-on offering via joint bookrunners Bank of America Merrill Lynch and Sandler O'Neill + Partners.

The tangible equity units will mature in three years. They have full dividend and takeover protection.

Based in Lake Forest, Ill., Wintrust is a financial holding company.

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