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First Niagara Financial Group,
Inc.
FNFG 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.
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