WSFS Financial to issue $25-par senior notes due 2019; funds to support balance sheet growth

By Stephanie N. Rotondo

Phoenix, Aug. 20 - WSFS Financial Corp. will price an offering of $25-par senior notes due 2019, according to a prospectus filed with the Securities and Exchange Commission on Monday.

The notes can be called in 2017 or on any scheduled interest payment date thereafter at par plus accrued interest.

The company will apply to list the notes on the Nasdaq Global Select Market.

Sandler O'Neill + Partners, LP is the bookrunner. The co-lead manager is Keefe Bruyette & Woods Inc.

Co-managers are Boenning & Scattergood, Inc. and Janney Montgomery Scott LLC.

Proceeds will be used for general corporate purposes, including supporting anticipated balance sheet growth, which may include loan originations and securities purchases. The company may also use the funds to repurchase or redeem all or a portion of its series A preferred stock, subject to regulatory approval.

WSFS is a Wilmington, Del.-based savings and loan holding company.

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