SVB Financial Group to Sell Fixed Rate Preferred

California banking company SVB Financial Group (SVB) has announced a new issuance of fixed rate preferred stock.

The issue will be non-cumulative, but qualified and will have an early redemption period starting in February, 2025.

We find no rating for this new issue at this time from S&P, but it will be rated Baa2 by Moodys.

The issue will be traded on the NASDAQ once it trades on its permanent exchange under ticker SIVBP.

No OTC Grey Market ticker is yet known on the issue.

The preliminary prospectus can be found here.

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