TCF Financial (TCB) Commences Preferred Offering
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TCF Financial Corporation (NYSE: TCB) announced that it has commenced an underwritten registered public offering of Series B Non-Cumulative Perpetual Preferred Stock (“Preferred Stock”). TCF intends to grant the underwriters a 30-day option to purchase additional shares to cover over-allotments, if any. Morgan Stanley & Co. LLC and UBS Securities LLC are acting as joint book-running managers. RBC Capital Markets, LLC and Stifel, Nicolaus & Company, Incorporated will serve as co-managers.
The shares will be offered pursuant to a prospectus supplement filed as part of a shelf registration statement filed with the Securities and Exchange Commission on Form S-3.
TCF expects to use the net proceeds from the sale of the shares for general corporate purposes, which may include capital to support asset growth.
The shares will be offered pursuant to a prospectus supplement filed as part of a shelf registration statement filed with the Securities and Exchange Commission on Form S-3.
TCF expects to use the net proceeds from the sale of the shares for general corporate purposes, which may include capital to support asset growth.
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