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Zions Bank to price $200 million 4% two-year notes via online auction
By Andrea Heisinger
New York, June 11 - Zions Bancorporation announced a $200 million sale of 4% two-year senior notes to be sold via an online auction, according to a press release and 424B3 filing with the Securities and Exchange Commission.
The auction will open on June 12 at 3 p.m. ET and close on June 13 at 3 p.m. ET.
The minimum bid for the notes is 97.5, or a yield of 4.693% with a maximum price of 102 per note, or a yield of 3.46%.
The notes are noncallable.
Deutsche Bank Securities Inc. is bookrunner, while Zions Direct is the auction agent.
Proceeds will be used for general corporate purposes, including the possible redemption of series D preferred stock held by the U.S. Treasury or senior floating-rate notes due on June 21.
The bank holding company is based in Salt Lake City.
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