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M&T Capital to price enhanced trust preferred securities, talked at $200 million
By Andrea Heisinger
Omaha, Jan. 23 - M&T Capital Trust IV announced Wednesday it will issue enhanced trust preferred securities, according to a 424B3 filing with the Securities and Exchange Commission.
The issue is being talked at $200 million, a market source said, with pricing expected Thursday.
The securities will be priced at $25 each.
Proceeds will primarily be used for general corporate purposes.
Bookrunners are Citigroup Global Markets Inc. and UBS Investment Bank. Co-managers are Merrill Lynch, Pierce, Fenner & Smith Inc., Morgan Stanley & Co. Inc. and Wachovia Capital Securities LLC.
The issuer is a subsidiary of M&T Bank Corp., based in Buffalo, N.Y.
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