By Andrea Heisinger
New York, April 26 - Zions Bancorporation reopened its issue of 4.5% senior notes due March of 2017 via an online auction to add $100 million, according to an FWP filing with the Securities and Exchange Commission.
The additional notes (/BBB-/BBB-) were sold at 100.249 to yield 4.442% and are non-callable.
The total outstanding issue size is now $400 million, including $300 million previously sold.
Deutsche Bank Securities Inc. ran the books. Zions Direct, Inc. was auction agent.
Proceeds are being used for general corporate purposes, possibly including the partial redemption of remaining series D preferred stock held by the U.S. Treasury or the redemption of the bank's senior floating-rate notes due June 21.
The financial services holding company is based in Salt Lake City.
| Issuer: | Zions Bancorporation
|
| Issue: | Senior notes reopened via online auction
|
| Amount: | $100 million
|
| Maturity: | March 27, 2017
|
| Bookrunner: | Deutsche Bank Securities Inc.
|
| Auction agent: | Zions Direct, Inc.
|
| Coupon: | 4.5%
|
| Price: | 100.249
|
| Yield: | 4.442%
|
| Call: | Non-callable
|
| Trade date: | April 26
|
| Settlement date: | May 1
|
| Ratings: | Standard & Poor's: BBB-
|
| Fitch: BBB-
|
| Total issuance: | $400 million including $300 million previously sold
|
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