U.S. Bancorp (USB) Prices 139M Shares at $18, Plans to Repay TARP
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U.S. Bancorp (NYSE: USB) priced its public offering of 139,000,000 shares of its common stock at $18.00 per share. The net proceeds to U.S. Bancorp after deducting underwriting discounts and commissions and estimated offering expenses are expected to be approximately $2.4 billion.
Shares of USB closed at $18.50 yesterda.
U.S. Bancorp said it will request to repay the TARP with the proceeds of this offering.
U.S. Bancorp has granted the underwriters an option to purchase up to an additional 20,850,000 shares of its common stock to cover over-allotments, if any.
Additionally, U.S. Bancorp today priced a public offering of $1.0 billion in aggregate principal amount of medium-term notes. The medium-term notes will not be guaranteed by the FDIC.
Shares of USB closed at $18.50 yesterda.
U.S. Bancorp said it will request to repay the TARP with the proceeds of this offering.
U.S. Bancorp has granted the underwriters an option to purchase up to an additional 20,850,000 shares of its common stock to cover over-allotments, if any.
Additionally, U.S. Bancorp today priced a public offering of $1.0 billion in aggregate principal amount of medium-term notes. The medium-term notes will not be guaranteed by the FDIC.
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