Menu
Email page PDF view Print view Email Alert Social Media Sharing

Press Release

TCF National Bank to Issue $110 Million of Subordinated Notes

Company Release - 6/6/2012 8:00 AM ET

WAYZATA, Minn.--(BUSINESS WIRE)-- TCF National Bank (“TCF Bank”), a wholly-owned subsidiary of TCF Financial Corporation (“TCF”) (NYSE: TCB), priced an offering of $110 million of subordinated notes that will be due on June 8, 2022.

The subordinated notes bear interest at a fixed rate of 6.25% until maturity. The notes are intended to qualify as Tier 2 or supplementary capital for regulatory purposes, subject to certain limitations. TCF Bank intends to use the proceeds for general corporate purposes.

Barclays Capital Inc. and J.P. Morgan Securities LLC are acting as joint book-running managers for the subordinated debt offering. Credit Suisse Securities (USA) LLC is serving as co-manager.

This announcement does not constitute an offer to buy or a solicitation to sell the subordinated notes.

About TCF Bank

TCF Bank is a wholly-owned subsidiary of TCF, a Wayzata, Minnesota-based national bank holding company with $17.8 billion in total assets at March 31, 2012. The company has over 430 branches in Minnesota, Illinois, Michigan, Colorado, Wisconsin, Indiana, Arizona and South Dakota, providing retail and commercial banking services. TCF also conducts commercial leasing and equipment finance business and leverage lending in all 50 states, commercial inventory finance business in the U.S. and Canada, and indirect auto finance business in over 30 states.

TCF Financial Corporation, Wayzata
Jason Korstange, 952-745-2755

Source: TCF Financial Corporation

The information that is on or available through this site speaks only as of the particular date or dates of that information. We do not guarantee the accuracy or completeness of information on or available through this site, and we are not responsible for inaccuracies or omissions in that information or for actions taken in reliance on that information. TCF Financial Corporation does not undertake an obligation, and disclaims any duty, to update any of the information on or available through this site.