Preferred Stock OfferingsBy Preferred Stock Channel Staff, updated Thu, December 2, 6:29 PM
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Slide #99. SVB Financial Group — Preferred Stock Offering
SVB Financial Group (NASDAQ:SIVB)
Date of Pricing:
Price Per Share:
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 Group is a bank holding company. Through its subsidiary, Silicon Valley Bank, Co. provides commercial and private banking products and services. Co.'s segments are: Global Commercial Bank, which is comprised of Commercial Bank, Global Funds Banking Division, SVB Wine and Debt Fund Investments; SVB Private Bank, which provides private wealth management and private banking services, including mortgages, home equity lines of credit, and restricted stock purchase loans; SVB Capital, which is the venture capital investment arm of Co.; and SVB Leerink, which provides investment banking services across subsectors of healthcare including biotechnology and medical devices.
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Buy (3.12 out of 4)
(ranked lower than approx. 68% of all stocks covered)
Based on data provided by Zacks Investment Research via Quandl.com