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...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.