By Andrea Heisinger
Omaha, Dec. 6 - Zions Bancorporation priced $295.63 million of two-year floating-rate senior notes at par to yield three-month Libor plus 150 bps, according to a FWP filing with the Securities and Exchange Commission.
The notes (A2/BBB+/A-) are callable beginning Dec. 10, 2008 at par.
Placement agent was Zions Direct, Inc.
Proceeds will be applied toward retiring $232.575 million of floaters due April 15, 2008 and $8 million of floaters due Sept. 15, 2008and for general corporate purposes.
The holding company for banking subsidiaries is based in Salt Lake City.
| Issuer: | Zions Bancorporation
|
| Issue: | Floating-rate senior notes
|
| Amount: | $295.63 million
|
| Maturity: | Dec. 10, 2009
|
| Placement agent: | Zions Direct, Inc.
|
| Coupon: | Three-month Libor plus 150 bps, payable quarterly
|
| Price: | Par
|
| Yield: | Three-month Libor plus 150 bps
|
| Call: | Beginning Dec. 10, 2008 at par
|
| Trade date: | Dec. 5
|
| Settlement date: | Dec. 11
|
| Ratings: | Moody's: A2
|
| Standard & Poor's: BBB+
|
| Fitch: A-
|
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