PreferredStockChannel
Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Sat, May 21, 8:13 AM
| This Slide: #535 of 581 |
Slide #535. Webster Financial Corporation — Preferred Stock Offering
Company:
Webster Financial Corporation (NYSE:WBS)
Date announced:
11/27/2012
Shares Offered:
4,400,000
Date of Pricing:
11/27/2012
Price Per Share:
$25
Preferred Stock Offering Details:
Webster Financial Corporation, the holding company for Webster Bank, N.A, announced today that it has commenced an underwritten public offering of depositary shares, each representing a 1/1000th interest in a share of its Series E Non-Cumulative Perpetual Preferred Stock, with a liquidation preference of $25,000 per share (equivalent to $25 per depositary share). Webster expects to grant the underwriters a 30-day option to purchase additional depositary shares solely to cover over-allotments. --updated 11/28/12 -- Webster Financial Corporation, the holding company for Webster Bank, N.A., announced today that it had priced an underwritten public offering of 4,400,000 depositary shares ($110 million of aggregate public offering price), each representing a 1/1000th interest in a share of its Series E Non-Cumulative Perpetual Preferred Stock, with a liquidation preference of $25,000 per share (equivalent to $25 per depositary share). Dividends will accrue and be payable on the liquidation amount of $25,000 per share of Series E Preferred Stock in arrears at 6.40% per annum only when, as, and if declared by the board of directors of Webster (or a duly authorized committee of the board) and to the extent Webster has legally available funds to pay dividends. The offering is expected to close on or about December 4, 2012, subject to customary closing conditions.
Webster Financial is a bank holding company and financial holding company. Co., through its subsidiary, Webster Bank, National Association, delivers banking, investment, and financial services. Co. provides mortgage lending, financial planning, trust, and investment services through banking centers, ATMs, a customer care center, and a range of web and mobile-based banking services. Co. also provides equipment financing, commercial real estate lending, asset-based lending, and treasury and payment solutions primarily in the eastern United States. Co. provides health savings accounts, while also delivers health reimbursement arrangements, and commuter benefit account administration services.
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Avg. Broker Rec.
 
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Buy (3.11 out of 4) 28th percentile
(ranked lower than approx. 72% of all stocks covered)
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