PreferredStockChannel
Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Sat, April 1, 3:52 PM
| This Slide: #135 of 609 |
Slide #135. SVB Financial Group — Preferred Stock Offering
Company:
SVB Financial Group (NASDAQ:SIVB)
Date announced:
12/2/2019
Shares Offered:
14,000,000
Date of Pricing:
12/2/2019
Price Per Share:
$25.00
Preferred Stock Offering Details:
SVB Financial Group ("SVB") (NASDAQ: SIVB) today announced the pricing of an offering of 14,000,000 depositary shares, each representing a 1/40th interest in a share of its 5.250% fixed-rate non-cumulative perpetual Series A Preferred Stock, liquidation amount $1,000 per share (equivalent to $25 per depositary share) at an aggregate offering price of $350 million. The offering is expected to close on December 9, 2019, subject to customary closing conditions.
SVB Financial is a bank holding company. Through its subsidiary, Silicon Valley Bank (the Bank), Co. provides commercial and private banking products and services. The Bank and its subsidiaries also provide asset management, private wealth management and other investment services. Co.'s segments are: Global Commercial Bank, which is comprised of Commercial Bank, Global Fund Banking Division, and SVB Wine; SVB Private Bank, which provides private wealth management and private banking services; SVB Capital, which is the venture capital and credit investment arm of Co.; and SVB Securities, which provides investment banking services across various sub-sectors of Healthcare and Technology.
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Avg. Broker Rec.
  
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Buy (2.65 out of 4) 100th percentile
(ranked higher than approx. 100% of all stocks covered)
Based on data provided by Zacks Investment Research via Quandl.com |
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