Zions Launches Stock, Note Capital-Raising Effort

Law360, New York (September 17, 2009, 5:28 PM EDT) -- Facing a rapidly approaching repayment deadline for nearly $300 million in debt and the fallout from three quarters of losses, Zions Bancorp. has announced a stock issuance of up to $250 million along with an unspecified offering of senior unsecured notes.

The Salt Lake City-based bank holding company, which operates banks primarily in Western states and California, submitted filings to the U.S. Securities and Exchange Commission on Thursday regarding its plans for the capital-raising and refinancing efforts.

In conducting its stock offering, the company said it...
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