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-E Trade Financial plans public offering of senior notes.

Global Banking News-May 17, 2011--E Trade Financial plans public offering of senior notes(C)2011 ENPublishing - http://www.enpublishing.co.uk

Global Banking News - 17 May 2011

E-TRADE Financial Corporation (NASDAQ: ETFC) has said that it is planning to issue USD435m worth of senior notes, due 2016.

The terms of the notes, including the interest rate, principal amount, and redemption provisions, will be subject to market conditions at the time of pricing. The net proceeds from the sale of the notes will be used to redeem all of its outstanding 7.375 percent Senior Notes, due 2013, totalling nearly USD414.7m.

JP Morgan Securities Llc (NYSE: JPM) will serve as sole book-runner for the offering.

[Editorial queries for this story should be sent to gbn@enpublishing.co.uk]

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Publication:Global Banking News (GBN)
Date:May 17, 2011
Words:136
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