SVB Financial Group (SIVB) has priced the previously announced new preferred stock offering.
The issue priced at 5.25% and will be non-cumulative, but qualified.
The issue is split investment grade with Moodys rating the issue Baa2 and S&P being at BB.
The issue will trade today under OTC Grey market ticker SIVBL.
SteveA was right on the pricing under yesterdays announcement article.