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Signature Bank partial greenshoe ups 5% preferreds to $730 million
By Wendy Van Sickle
Columbus, Ohio, Dec. 17 – Underwriters for Signature Bank’s $25-par 5% series A non-cumulative perpetual preferred stock (//B) exercised a $30 million, or 1.2 million share, portion of its $50 million, or 2 million share, greenshoe, according to a press release Thursday.
The partial greenshoe brings the total deal size to $730 million, or 29.2 million shares. The company priced $700 million, or 28 million shares, of the preferreds on Dec. 10 at par, as previously reported.
Morgan Stanley & Co. LLC, BofA Securities, Inc., Keefe, Bruyette & Woods, Inc. and UBS Securities LLC are the bookrunners.
The company plans to use the proceeds for general corporate purposes.
Signature Bank is a New York-based financial services company.
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