E*Trade to sell $460 million notes due September 2023 on Monday

By Paul A. Harris

Portland, Ore., March 2 – E*Trade Financial Corp. plans to price a $460 million offering of senior notes due September 2023 on Monday trailing a late-morning conference call with investors, according to a syndicate source.

Morgan Stanley & Co. LLC, J.P. Morgan Securities LLC and Goldman Sachs & Co. are the joint bookrunners for the public offering. Credit Suisse Securities (USA) LLC and Wells Fargo Securities LLC are the co-managers.

The notes come with three years of call protection.

The New York-based financial services company plans to use the proceeds, along with existing corporate cash, to redeem all of its outstanding 2019 notes.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.