Preferred Stock OfferingsBy Preferred Stock Channel Staff, updated Sat, December 4, 2:11 AM
|This Slide: #340 of 573|
Slide #340. Banc of California, Inc. — Preferred Stock Offering
Banc of California, Inc. (NYSE:BANC)
7.375% Non-Cumulative Perpetual Preferred Stock, Series D (BANC.PRD)
Date of Pricing:
Price Per Share:
Preferred Stock Offering Details:
Banc of California, Inc. (the "Company") (NYSE:BANC), the holding company for Banc of California, National Association, today announced the pricing of its offering of $175 million aggregate principal amount of 5.25% Senior Notes due 2025 (the "notes offering") and its offering of an aggregate of 4 million depositary shares, each representing a 1/40th interest in a share of its 7.375% Non-Cumulative Perpetual Preferred Stock, Series D, par value $0.01 per share and liquidation preference of $1,000 per share, at an offering price of $25 per depositary share, for gross proceeds of $100 million (the "depositary shares offering" and together with the notes offering, the "offerings"). The Company expects to use the net proceeds from the offerings for general corporate purposes. Neither offering is contingent on the completion of the other offering.
Banc of California is a bank holding company. Through its subsidiary, Co. is engaged in providing products and solutions for businesses, business owners, and individuals through its branches extending from San Diego to Santa Barbara. Co.'s products include: Commercial and Industrial Loans, Commercial Real Estate and Multifamily Loans, Small Business Administration Loans, Construction Loans, Single Family Residential Mortgage Loans, and Other Consumer Loans. Co. also provides a variety of deposit products consisting of interest-bearing and noninterest-bearing demand accounts, savings accounts, money market deposit accounts, and certificates of deposit.
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