From Earlier: Zions Bancorporation Announces Pricing of Senior Notes
Zions Bancorporation (Nasdaq: ZION) announced yesterday that it priced $158,448,000 of fixed-rate senior unsecured notes to mature on June 20, 2016 with a coupon of 4.00% in an underwritten public transaction. The Notes were sold at a price of 97.5% of face value, which equates to a yield to maturity of approximately 4.693%.
The public offering price was determined through an internet-based modified Dutch auction mechanism administered by Zions Direct, Inc. Net of commissions and fees, the net proceeds to the Company are expected to be approximately $153 million.
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