Type to search

Banking Featured Financial District

Popular Inc. announces sale of $300M in Senior Notes

Popular Inc. announced it has agreed to sell an aggregate of $300 million principal amount of its 6.125 percent Senior Notes due 2023.

Popular intends to use the net proceeds from the offering plus available cash to redeem $450 million aggregate principal amount of its outstanding 7.00 percent Senior Notes due on July 1, 2019.

The Senior Notes will bear interest at a rate of 6.125 percent per year, payable on March 14 and Sept. 14 of each year, commencing on March 14, 2019. The Senior Notes will mature on Sept. 14, 2023, the financial institution confirmed.

J.P. Morgan Securities LLC, Barclays Capital Inc., Goldman Sachs & Co. LLC and Morgan Stanley & Co. LLC are acting as joint book-running managers of the offering. Popular Securities, LLC is acting as one of the co-managers of the offering.

The offering is being conducted as a public offering through a prospectus supplement filed as part of an effective shelf registration statement filed with the Securities and Exchange Commission on Form S-3. Popular expects to close the offering on or about Sept. 14, 2018.

Copies of the preliminary prospectus supplement and the accompanying prospectus relating to the offering may be obtained, when available, from:

  • P. Morgan Securities LLC, 383 Madison Avenue, New York, NY 10179, Attention: Investment Grade Syndicate Desk or by calling (212)-834-4533;
  • Barclays Capital Inc., 745 Seventh Avenue, New York, New York 10019, Attention: Syndicate Registration or by calling (888) 603-5847;
  • Goldman Sachs & Co. LLC, 200 West Street, New York, New York 10282, Attention: Registration Department or by calling (866) 471-2526;
  • Morgan Stanley & Co. LLC, 1585 Broadway, 29th Floor, New York, New York 10036, Attention: Investment Banking Division or by calling (866) 471-2526.

Electronic copies of the prospectus supplement may be obtained by visiting EDGAR on the SEC’s website.

Author Details
Author Details
This story was written by our staff based on a press release.
Tags:

Leave a Comment

Your email address will not be published. Required fields are marked *