Customers greenshoe increases 6.375% $25-par notes to $63.25 million

By Angela McDaniels

Tacoma, Wash., Aug. 29 - The underwriters for Customers Bancorp Inc.'s 6.375% $25-par senior notes due 2018 exercised their $8.25 million over-allotment option in full, raising the issue size to $63.25 million from $55 million, according to an 8-K filing with the Securities and Exchange Commission on Thursday.

The company priced the notes at par on July 24. The deal was upsized from $25 million.

Janney Montgomery Scott LLC and Boenning & Scattergood Inc. are the bookrunners.

The notes are not callable.

Proceeds will be used to invest in Customers Bank, to fund organic growth and for working capital and general corporate purposes, including acquisitions.

Customers is a Wyomissing, Pa.-based bank holding company.

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