SVB Financial to price senior notes, two series of preferreds

By Marisa Wong and Cristal Cody

Los Angeles, Oct. 25 – SVB Financial Group is offering senior notes as well as two series of $1,000-par non-cumulative perpetual preferred stock, according to 424B2 filings with the Securities and Exchange Commission on Monday.

Price talk for the series D perpetual non-callable five-year preferreds is in the 4.375% to 4.5% area, according to a market source.

The series E perpetual non-callable 10-year preferreds are talked at the 4.875% area.

BofA Securities, Inc. is the bookrunner with SVB Leerink LLC as co-manager.

Proceeds will be used for general corporate purposes.

The financial services and bank holding company is based in Santa Clara, Calif.

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