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Astoria Financial prices $200M senior notes offering

Lake Success, N.Y.-based Astoria Financial Corp. priced its underwritten public offering of $200 million aggregate principal amount of its 3.500% senior notes due 2020.

Aside from general corporate purposes, net proceeds from the offering will be used to repay its 5.000% senior notes due 2017. As of March 31, there was $250 million outstanding under the 5.000% senior notes due 2017, which mature June 19. Should proceeds be insufficient for the repayment, the company will augment the difference with cash on hand.

The offering closes on June 8.

Sandler O'Neill & Partners LP is acting as the sole book-running manager, and Macquarie Capital (USA) Inc. is co-manager for the offering. Arnold & Porter Kaye Scholer LLP served as outside legal counsel to the company, while Hogan Lovells US LLP served as outside legal counsel to the underwriters.