Company Name |
Cullen/Frost Bankers, Inc. |
Offering Type |
Preferred Equity |
Description |
PERP PFD SER A % |
ISIN |
US2298992080 |
Currency of Issue |
USD |
|
Announcement Date |
2/12/2013 |
Trade Date |
2/12/2013 |
Settlement Date |
2/15/2013 |
Completion Date |
2/12/2013 |
Lock-up Expiration |
3/14/2013 |
Shelf Filing Date |
1/31/2013 |
|
144a? |
No |
Mandatory Redemption? |
No |
Convertible? |
No |
Exchange for Existing Issue? |
No |
The company intends to use the net proceeds from this offering to repurchase shares of its common stock under an accelerated share repurchase agreement anticipated to be entered into concurrently with this offering. |
Offer Price ($) |
25.00 |
Gross Amount Offered ($000) |
150,000 |
Amount Including Overallotment ($000) |
150,000 |
Shares Offered |
6,000,000 |
Total Shares Offered |
6,000,000 |
Moody's Corporation |
Baa2 |
Standard & Poor's Financial Services, LLC |
BBB- |
Gross Spread ($) |
0.77 |
Gross Spread (%) |
3.08 |
Reallowance ($) |
0.45 |
Book Manager(s) |
Morgan Stanley & Co. LLC |
2,040,000 |
51,000 |
UBS Securities LLC |
2,040,000 |
51,000 |
Goldman Sachs & Co. LLC |
1,020,000 |
25,500 |
Co-Manager(s) |
Barclays Capital Inc. |
150,000 |
3,750 |
J.P. Morgan Securities LLC |
150,000 |
3,750 |
Keefe, Bruyette & Woods, Inc. |
150,000 |
3,750 |
RBC Capital Markets, LLC |
150,000 |
3,750 |
Sandler O'Neill & Partners, L.P. |
150,000 |
3,750 |
Stifel, Nicolaus & Company, Incorporated |
150,000 |
3,750 |
Issuer's Counsel |
Sullivan & Cromwell LLP |
Underwriter's Counsel |
Simpson Thacher & Bartlett LLP |
Auditor(s) |
Ernst & Young LLP |
Clearing House(s) |
Clearstream Banking S.A. |
|
Euroclear Bank SA/NV |
|
The Depository Trust Company |
|
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