By Devika Patel
Knoxville, Tenn., April 30 - Oriental Financial Group Inc. said it settled a $200 million private placement of series C mandatorily convertible non-cumulative non-voting perpetual preferred stock.
The preferreds have a liquidation preference of $1,000 and convert into common shares at an initial conversion price of $15.015 per share.
Oriental is a financial holding company based in San Juan, Puerto Rico.
| Issuer: | Oriental Financial Group Inc.
|
| Issue: | Series C mandatorily convertible non-cumulative non-voting perpetual preferred stock
|
| Amount: | $200 million
|
| Conversion price: | $15.015
|
| Warrants: | No
|
| Settlement date: | April 30
|
| Stock symbol: | NYSE: OFG
|
| Stock price: | $16.72 at close April 30
|
| Market capitalization: | $554 million
|
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