Preferred Stock OfferingsBy Preferred Stock Channel Staff, updated Sun, August 14, 8:42 PM
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Slide #205. TCF Financial Corporation — Preferred Stock Offering
TCF Financial Corporation (TCF)
Date of Pricing:
Price Per Share:
Preferred Stock Offering Details:
TCF Financial Corporation ("TCF") (NYSE:TCF) today announced the pricing of its public offering of 7,000,000 depositary shares, each representing a 1/1,000th interest in a share of its Series C Non-Cumulative Perpetual Preferred Stock, par value $0.01 per share (the "Series C Preferred Stock"), at a public offering price of $25.00 per depositary share for gross proceeds of $175.0 million. Morgan Stanley & Co. LLC and UBS Securities LLC acted as joint book-running managers. J.P. Morgan Securities LLC and RBC Capital Markets, LLC served as joint lead managers.
TCF Financial is a financial holding company. Through its subsidiary, TCF National Bank, Co. provides consumer and commercial banking, trust and wealth management, and leasing and lending products and services to consumers, small businesses and commercial customers. Co.'s segments are: Consumer Banking, which comprised of consumer and small businesses and includes retail banking, wealth management,residential and consumer lending, and business banking; Commercial Banking, which comprised of commercial and industrial, commercial real estate banking and lease financing; and Enterprise Services, which comprised of corporate treasury, corporate functions, and Co.
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Buy (2.82 out of 4)
(ranked lower than approx. 89% of all stocks covered)
Based on data provided by Zacks Investment Research via Quandl.com