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Slideshow Preferred Stock Offerings

By Preferred Stock Channel Staff, updated Sunday, October 25, 8:21 PM

Slide #476. Oriental Financial Group Inc. Preferred Stock Offering

Company: Oriental Financial Group Inc. (NYSE:OFG)
Security type: Series D Non-Cumulative Perpetual Preferred Stock (NYSE:OFG.PRD)
Shares Offered: 960,000
Date of Pricing: 10/31/2012
Price Per Share: $25
Preferred Stock Offering Details: Oriental Financial Group Inc. announced that it has priced an underwritten public offering of 960,000 shares of its Series D non-cumulative perpetual preferred stock (the "Preferred Stock"), with a liquidation preference of $25.00 per share at a price to the public of $25.00 per share for gross proceeds of $24 million. Except in certain limited circumstances, the Preferred Stock is not redeemable prior to November 15, 2017. After that date, Oriental may redeem at its option, in whole or in part, the Preferred Stock at a redemption price of $25.00 per share plus any declared and unpaid dividends to, but excluding, the redemption date. Oriental intends to apply for the Preferred Stock to be listed on the New York Stock Exchange under the symbol "OFGPrD".

OFG Bancorp is a financial holding company. Through its subsidiaries, Co. provides banking and financial services to its clients through a range of banking and financial solutions. Co.'s business segments include: Banking, which provides deposits and commercial, consumer and mortgage loans, and mortgage banking activities; Wealth Management, which include financial planning, money management, investment banking, brokerage services, insurance sales activity, corporate and individual trust, and retirement services, as well as retirement plan administration services; and Treasury, which encompasses all of Co.'s asset/liability management activities.

Preferreds: OFG.PRA, OFG.PRB, OFG.PRD


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Name:  OFG Bancorp
Website:  www.ofgbancorp.com
Sector:  Banking & Savings
Number of ETFs Holding OFG:  43 (see which ones)
Total Market Value Held by ETFs:  $444,863,074
Total Market Capitalization:  $768,000,000
% of Market Cap. Held by ETFs:  57.92%
 

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