First Niagara Financial Group Announces $250 Million Preferred Stock Offering

First Niagara Financial Group, Inc.

today announced the commencement of an underwritten public offering of $250 million aggregate liquidation preference of its fixed-to-floating rate perpetual non-cumulative preferred stock, Series B. In addition, First Niagara expects to grant the underwriters of the preferred stock offering a 30-day option to purchase up to $37.5 million of additional shares of preferred stock. Goldman, Sachs & Co. will serve as the global coordinator for the offering, Merrill Lynch, Pierce, Fenner & Smith Incorporated will serve as the physical bookrunner for the offering, Goldman, Sachs & Co., Merrill Lynch, Pierce, Fenner & Smith Incorporated and Wells Fargo Securities, LLC will serve as joint book-running managers for the offering, Citigroup Global Markets Inc. will serve as the joint lead manager, and Sandler O'Neill + Partners, L.P. will serve as the co-manager for the offering.