SANTA CLARA, Calif., Jan. 26, 2021 /PRNewswire/ — SVB Monetary Group (“SVB”) (NASDAQ: SIVB) at this time introduced the pricing of an underwritten providing of 750,000 depositary shares, every representing a 1/100th curiosity in a share of its Sequence B Non-Cumulative Perpetual Most well-liked Inventory, liquidation quantity $100,000 per share (equal to $1,000 per depositary share) at an mixture providing value of $750 million. SVB at this time additionally introduced the pricing of an underwritten providing of $500 million in mixture principal quantity of its 1.800% Senior Notes due 2031 (the “Notes”). The Notes will probably be offered at 99.672% of the principal quantity and can bear curiosity semi-annually. Each choices are anticipated to shut initially on February 2, 2021, topic to customary closing situations. SVB intends to make use of the web proceeds of each choices for common company functions.
Goldman Sachs & Co. LLC and BofA Securities, Inc. are performing as joint book-running managers for the choices. SVB Leerink LLC is performing as co-manager.
Every providing is being made pursuant to an efficient shelf registration assertion, together with a prospectus and prospectus complement, filed by SVB with the U.S. Securities and Alternate Fee (“SEC”). For every providing, traders ought to learn the prospectus in that registration assertion, the associated prospectus complement and different paperwork SVB has filed with the SEC for extra full details about SVB and the providing earlier than investing. These paperwork could also be obtained totally free by visiting the SEC web site at www.sec.gov. Alternatively, for every providing, SVB, any underwriter or any vendor taking part within the providing will organize to ship you the prospectus contained within the registration assertion, along with the associated prospectus complement, for those who request it by contacting Goldman Sachs & Co. LLC at 1-866-471-2526 or by emailing [email protected] or BofA Securities, Inc. at 1-800-294-1322. This press launch is for informational functions solely and doesn’t represent a proposal to promote, or a solicitation of a proposal to purchase, these securities, nor shall there be any sale of those securities in any state or jurisdiction during which such a proposal, solicitation or sale can be illegal previous to registration or qualification underneath the securities legal guidelines of any such state or jurisdiction.
About SVB Monetary Group
For greater than 35 years, SVB Monetary Group (NASDAQ: SIVB) and its subsidiaries have helped progressive corporations and their traders transfer daring concepts ahead, quick. SVB Monetary Group’s companies, together with Silicon Valley Financial institution, supply business and personal banking, asset administration, non-public wealth administration, brokerage and funding companies and funds administration companies to corporations within the know-how, life science and healthcare, non-public fairness and enterprise capital, and premium wine industries. Headquartered in Santa Clara, California, SVB Monetary Group operates in facilities of innovation all over the world.
SVB Monetary Group is the holding firm for all enterprise models and teams © 2021 SVB Monetary Group. All rights reserved. SVB, SVB FINANCIAL GROUP, SILICON VALLEY BANK, MAKE NEXT HAPPEN NOW and the chevron machine are logos of SVB Monetary Group, used underneath license. Silicon Valley Financial institution is a member of the FDIC and the Federal Reserve System. Silicon Valley Financial institution is the California financial institution subsidiary of SVB Monetary Group.
This press launch accommodates forward-looking statements inside the which means of the Personal Securities Litigation Reform Act of 1995. Ahead-looking statements are topic to recognized and unknown dangers and uncertainties, lots of which can be past SVB Monetary Group’s management. Ahead-looking statements are statements that aren’t historic details and usually could be recognized by means of such phrases as “turning into,” “could,” “will,” “ought to,” “might,” “would,” “predict,” “potential,” “proceed,” “anticipate,” “consider,” “estimate,” “search,” “count on,” “plan,” “intend,” the destructive of such phrases or comparable terminology. Though SVB Monetary Group believes that the expectations mirrored in SVB Monetary Group’s forward-looking statements are affordable, SVB Monetary Group has primarily based these expectations on its present beliefs in addition to its assumptions, and such expectations could not show to be right. As a result of forward-looking statements relate to the long run, they’re topic to inherent uncertainties, dangers and adjustments in circumstances which are troublesome to foretell and lots of of that are exterior SVB Monetary Group’s management. Ahead-looking statements associated to the choices and SVB Monetary Group’s precise outcomes of operations and monetary efficiency might differ considerably from these expressed in or implied by SVB Monetary Group forward-looking statements (for instance, as a result of COVID-19 pandemic and its results on the financial and enterprise environments during which SVB Monetary Group operates). The forward-looking statements included on this disclosure are made solely as of the date of this disclosure. SVB Monetary Group doesn’t intend, and undertakes no obligation, to replace these forward-looking statements.
SOURCE: SVB Monetary Group
SOURCE Silicon Valley Financial institution