E*TRADE Financial Corp. priced its offering of $420 million in principal amount of 4.50% senior notes due 2028.
The offering is expected to close June 20.
These notes will pay interest semiannually and will be the company's general unsecured senior obligations.
The company intends to use the net proceeds from the offering to redeem trust preferred securities issued by ETB Holdings Inc.
Bank of America Merrill Lynch, Credit Suisse, J.P. Morgan and Wells Fargo Securities are serving as joint book-running managers for the offering.
