Press Release
TCF Announces Preferred Stock Offering
WAYZATA, Minn.--(BUSINESS WIRE)-- TCF Financial Corporation (“TCF”) (NYSE:TCB) today announced that it has commenced an underwritten registered public offering of Series B Non-Cumulative Perpetual Preferred Stock (“Preferred Stock”). TCF intends to grant the underwriters a 30-day option to purchase additional shares to cover over-allotments, if any. Morgan Stanley & Co. LLC and UBS Securities LLC are acting as joint book-running managers. RBC Capital Markets, LLC and Stifel, Nicolaus & Company, Incorporated will serve as co-managers.
The shares will be offered pursuant to a prospectus supplement filed as part of a shelf registration statement filed with the Securities and Exchange Commission on Form S-3.
TCF expects to use the net proceeds from the sale of the shares for general corporate purposes, which may include capital to support asset growth.
This announcement shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any offer or sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. The offering will be made only by means of a prospectus supplement and accompanying prospectus, copies of which may be obtained from Morgan Stanley & Co. LLC at 180 Varick Street, New York, NY 10014, Attention: Prospectus Delivery Department, or by telephone at 866-718-1649 and from UBS Securities LLC at 299 Park Avenue, New York, NY 10171, Attention: Prospectus Specialist, or by telephone at 877-827-6444, ext. 561-3884.
About TCF Financial Corporation
TCF is a Wayzata,
Minnesota-based national bank holding company with $17.9 billion in
total assets at September 30, 2012. The company has nearly 430 branches
in Minnesota, Illinois, Michigan, Colorado, Wisconsin, Indiana, Arizona
and South Dakota, providing retail and commercial banking services. TCF,
through its subsidiaries, also conducts commercial leasing and equipment
finance business in all 50 states, commercial inventory finance business
in the U.S. and Canada, and indirect auto finance business in 40 states.
Safe Harbor for Forward-Looking Information
This press
release may contain projections and other “forward-looking” statements
within the meaning of the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. Forward-looking statements
deal with future results, plans or performance. We caution you that such
statements are predictions and that actual events or results may differ
materially. TCF’s expected financial results or other plans are subject
to a number of risks and uncertainties. Please see the forward-looking
statement disclosure contained in the preliminary prospectus supplement
relating to the Preferred Stock dated as of the date hereof for more
information about risks and uncertainties. Forward-looking statements
speak only as of the date made and TCF undertakes no duty to update the
information.
TCF Financial Corporation, Wayzata
Jason Korstange, 952-745-2755
www.tcfbank.com
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.
