Webster Financial Corp. issued and sold $300 million aggregate principal amount of its 4.100% senior notes due 2029 in a registered public offering.
Interest on the notes will be payable semiannually on March 25 and Sept. 25 of each year, beginning Sept. 25.
The company may redeem the notes on or after Sept. 25, 2019, until Dec. 25, 2028, or 90 days before the maturity date of the notes, at 100% of the principal amount of the notes, or at a make-whole amount, discounted to the redemption date at the Treasury rate plus 25 basis points, whichever is greater.
Webster Financial expects to use the net proceeds for general corporate purposes.
J.P. Morgan Securities LLC, Sandler O'Neill & Partners LP and Merrill Lynch Pierce Fenner & Smith Inc. acted as joint book-running managers for the offering.