Reuters: Financial Services and Real Estate: TEXT-Fitch rates TCF National Bank

Reuters: Financial Services and Real Estate Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

TEXT-Fitch rates TCF National Bank Jun 6th 2012, 19:11 Wed Jun 6, 2012 3:11pm EDT June 6 - Fitch Ratings has assigned a 'BBB' rating to the $110 million subordinated notes issuance of TCF National Bank (TCB). The notes will bear an annual coupon of 6.25%, 480.2 basis points over the 10-year U.S. Treasury, and will mature on June 8, 2022. Semiannual coupons are payable on June 8 and Dec. 8 of each year, commencing on Dec. 8, 2012. Proceeds of the offering are intended to be used for general corporate purposes, which may include capital to support additional asset growth as well as to reduce short-term borrowings. The notes are intended to qualify as Tier 2 capital of TCF National Bank and TCF Financial Corporation.

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions