By Wendy Van Sickle
Columbus, Ohio, Sept. 27 – Stifel Financial Corp. priced an upsized $200 million of 5.2% $25-par senior notes (BBB-) due Oct. 15, 2047 on Wednesday, the company said in a press release late Wednesday evening.
Price talk was 5.25% to 5.375%, a market source had said earlier in the day.
The deal size had been talked at $100 million.
There is a $30 million over-allotment option.
Keefe Bruyette & Woods Inc., BofA Merrill Lynch and Morgan Stanley & Co. LLC are the joint bookrunners.
Interest will be payable on a quarterly basis. The notes become redeemable on Oct. 15, 2022 at par plus accrued interest.
The new notes will be listed on the New York Stock Exchange.
The St. Louis, Mo.-based financial holding company plans to use proceeds for general corporate purposes.
| Issuer: | Stifel Financial Corp.
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| Securities: | $25-par senior notes
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| Amount: | $200 million
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| Maturity: | Oct. 15, 2047
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| Bookrunners: | Keefe Bruyette & Woods Inc., BofA Merrill Lynch, Morgan Stanley & Co. LLC
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| Coupon: | 5.2%
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| Talk: | 5.25% to 5.375%
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| Greenshoe: | $30 million
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| Call options: | On or after Oct. 15, 2022 at par plus accrued interest
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| Pricing date: | Sept. 27
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| Ratings: | S&P: BBB
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