trending Market Intelligence /marketintelligence/en/news-insights/trending/6X3M2ynmeQHb-txAyracnw2 content esgSubNav
In This List

Webster Financial offers depositary shares for preferred stock

Podcast

Street Talk Episode 87

Blog

A New Dawn for European Bank M&A Top 5 Trends

Blog

Insight Weekly: US banks' loan growth; record share buybacks; utility M&A outlook

Blog

Banking Essentials Newsletter 2021: December Edition


Webster Financial offers depositary shares for preferred stock

Webster Financial Corp. has commenced an offering of depositary shares, which each represent a 0.001 interest in a share of the Waterbury, Conn.-based company's series F preferred stock.

Merrill Lynch Pierce Fenner & Smith Inc., Wells Fargo Securities LLC, J.P. Morgan Securities LLC and Citigroup Global Markets Inc. will serve as the offering's joint book-running managers. Underwriters may receive a 30-day option to buy more depositary shares to cover overallotments.

The preferred stock has a liquidation preference of $25,000 per share, or $25 per depositary share.

Net proceeds from the offering will go toward the redemption of Webster's series E preferred stock.