Popular offering $300 million of its 6.125% senior notes
The notes will “bear interest at a rate of 6.125% per year, payable on March 14 and September 14 of each year, commencing on March 14, 2019. The Senior Notes will mature on September 14, 2023,” the holding company added.
J.P. Morgan Securities LLC, Barclays Capital Inc., Goldman Sachs & Co. LLC and Morgan Stanley & Co. LLC are acting as joint book-running managers of the offering. Popular Securities LLC is acting as one of the co-managers of the offering.
Popular Inc. ranks among the top 50 U.S. bank holding companies by assets. Banco Popular de Puerto Rico, Popular’s principal subsidiary, provides retail, mortgage and commercial banking services in Puerto Rico and the U.S. Virgin Islands.
Popular also offers in Puerto Rico auto and equipment leasing and financing, investment banking, broker-dealer and insurance services through specialized subsidiaries. In the mainland United States, Popular provides retail, mortgage and commercial banking services through its New York-chartered banking subsidiary, Popular Bank, which has branches in New York, New Jersey and Florida.