Southwest Bancorp, Inc. (OKSB) said Friday that Southwest Capital Trust II, a statutory trust formed by Southwest under the laws of the State of Delaware, closed the issuance and sale of $4.5 million aggregate liquidation amount of the Trust's 10.50% preferred securities pursuant to the exercise, in full, of an over-allotment option granted to the underwriters of its recent offering.
The proceeds from the sale of the trust preferred securities, together with the proceeds from the sale by Southwest Capital Trust of its common securities to Southwest, were used by Southwest Capital Trust to purchase an aggregate of $4,640,000 of Southwest's 10.50% junior subordinated debentures due 2038. Southwest Capital Trust previously issued and sold $30,000,000 of its 10.50% trust preferred securities on July 2 in the initial closing of the offering.
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