Oriental Financial Will Offer 4.39M Shares of Common Stock for Acquisition of BBVA's Puerto Rico Operations

Oriental Financial Group Inc. OFG today announced the commencement of an underwritten public offering of 4,390,243 shares of its common stock. In addition, Oriental expects to grant the underwriters a 30-day option to purchase up to 439,024 additional shares of its common stock. Jefferies & Company, Inc. will serve as the sole book-running manager for the offering. Keefe, Bruyette & Woods, Inc. will serve as lead manager and Oriental Financial Services Corp. will serve as co-manager. Oriental intends to use the net proceeds from the common stock offering to fund a portion of the purchase price for its previously announced acquisition of the Puerto Rico based operations of Banco Bilbao Vizcaya Argentaria, S.A. BBVA, announced on June 28, 2012. The closing of the common stock offering is not conditioned upon the closing of the acquisition.