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Stifel Financial closes senior note offering

Stifel Financial Corp. completed the sale of $200 million aggregate principal amount of its 5.20% senior notes due Oct. 15, 2047.

Interest on the notes is payable quarterly in arrears on Jan. 15, April 15, July 15 and Oct. 15, commencing Jan. 15, 2018. The company may at any time and from time to time redeem the notes in whole or in part at a redemption price of $25 per note, plus accrued and unpaid interest to the redemption date. In case of a default, the trustee or the holders of at least 25% of the principal amount of the notes may declare the notes to be immediately due and payable.

The offering price of the notes was $25 apiece. The company received net proceeds before expenses of roughly $193.7 million, which will be used for general corporate purposes.

U.S. Bank NA is the trustee.