WSFS Financial Corp. (WSFS: Quote), the parent company of Wilmington Savings Fund Society, FSB, said Tuesday that it has priced an offering of $55.0 million aggregate principal amount of 6.25% Senior Notes due September 1, 2019, at a price equal to 100% of the aggregate principal amount of the Senior Notes.
After the underwriting discount and estimated offering expenses payable by the company, it expects to receive net proceeds of about $52.7 million.
The offering is expected to close on August 27.
The company expects to use the net proceeds for general corporate purposes, including to support anticipated balance sheet growth, which may include loan originations and securities purchases. Subject to receipt of the requisite regulatory approvals, the proceeds may be used to repurchase or redeem all or a portion of its Series A Preferred Stock.
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by RTT Staff Writer
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