Stifel Announces Pricing of $400 Million of Senior Notes

Rhea-AI Summary

Stifel Financial Corp. (NYSE: SF) has announced the pricing of $400 million in 4.000% Senior Notes, maturing on May 15, 2030. The notes will yield 4.000% annually, with proceeds aimed for general corporate purposes. The offering is set to close on May 20, 2020, contingent on customary closing conditions. The issuance follows an effective shelf registration statement with the SEC. Leading managers for the offering include Keefe, Bruyette & Woods, BofA Securities, Citigroup, Morgan Stanley, and Wells Fargo.

ST. LOUIS, May 13, 2020 (GLOBE NEWSWIRE) -- Stifel Financial Corp. (NYSE: SF) today announced the pricing of $400 million principal amount of 4.000% Senior Notes due 2030 (the “Notes”).  The Notes will bear interest at a rate of 4.000% per annum and will mature on May 15, 2030.  The net proceeds from this offering will be used for general corporate purposes.  The offering is expected to close on May 20, 2020, subject to customary closing conditions.

The Notes will be issued pursuant to an effective shelf registration statement previously filed with the Securities and Exchange Commission on Form S-3 and available for review on the Securities and Exchange Commission’s website at www.sec.gov. 

Keefe, Bruyette & Woods, A Stifel Company, BofA Securities, Inc., Citigroup Global Markets Inc., Morgan Stanley & Co. LLC and Wells Fargo Securities, LLC are acting as book-running managers.  Compass Point Research & Trading, LLC is acting as a co-manager. 

This offering will be made only by the prospectus and prospectus supplement related to this offering. Copies of the preliminary prospectus supplement and the accompanying base prospectus, when available, may be obtained from Keefe, Bruyette & Woods, A Stifel Company, Attn: Capital Markets, 787 Seventh Avenue, 4th Floor, New York, NY 10019, 1-800-966-1559; from BofA Securities, Inc., NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte NC 28255-0001, Attn: Prospectus Department, or by emailing: dg.prospectus_requests@bofa.com; from Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, 1-800-831-9146, or by emailing prospectus@citi.com; from Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, New York, NY 10014; or from Wells Fargo Securities, LLC, 608 2nd Avenue South, Suite 1000, Minneapolis, MN 55402, Attn: WFS Customer Service, 1-800-645-3751, or by emailing wfscustomerservice@wellsfargo.com.

Stifel Company Information
Stifel Financial Corp. (NYSE: SF) is a financial services holding company headquartered in St. Louis, Missouri, that conducts its banking, securities, and financial services business through several wholly owned subsidiaries. Stifel’s broker-dealer clients are served in the United States through Stifel, Nicolaus & Company, Incorporated, including its Eaton Partners business division; Keefe, Bruyette & Woods, Inc.; Miller Buckfire & Co., LLC and Century Securities Associates, Inc. The Company’s broker-dealer affiliates provide securities brokerage, investment banking, trading, investment advisory, and related financial services to individual investors, professional money managers, businesses, and municipalities.  Stifel Bank and Stifel Bank & Trust offer a full range of consumer and commercial lending solutions.  Stifel Trust Company, N.A. and Stifel Trust Company Delaware, N.A. offer trust and related services.  To learn more about Stifel, please visit the Company’s website at www.stifel.com. For global disclosures, please visit https://www.stifel.com/investor-relations/press-releases.

Cautionary Note Regarding Forward-Looking Statements
This press release contains certain statements that may be deemed to be “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements in this earnings release not dealing with historical results are forward-looking and are based on various assumptions. The forward-looking statements in this earnings release are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in or implied by the statements. For information about the risks and important factors that could affect the Company’s future results, financial condition and liquidity, see “Risk Factors” in Part I, Item 1A of the Company’s Annual Report on Form 10-K for the year ended December 31, 2019 and in Part II, Item 1A of our Quarterly Report on Form 10-Q for the quarter ended March 31, 2020. Forward-looking statements speak only as to the date they are made. The Company disclaims any intent or obligation to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.

Statements about the effects of the COVID-19 pandemic on the Company’s business, results, financial position and liquidity may constitute forward-looking statements and are subject to the risk that the actual impact may differ, possibly materially, from what is currently expected.

Stifel Investor Relations
Joel Jeffrey, (212) 271-3610
investorrelations@stifel.com

FAQ

What are the details of Stifel Financial's recent bond offering on May 13, 2020?

Stifel Financial priced $400 million in 4.000% Senior Notes due May 15, 2030, with interest at 4.000% per annum.

When will the Stifel bond offering close?

The offering is expected to close on May 20, 2020, subject to customary closing conditions.

What will Stifel Financial do with the proceeds from the bond offering?

The net proceeds will be used for general corporate purposes.

Who are the book-running managers for Stifel's bond offering?

The managers include Keefe, Bruyette & Woods, BofA Securities, Citigroup, Morgan Stanley, and Wells Fargo.

Where can I find more information about Stifel Financial's bond offering?

More information can be found in the prospectus related to the offering available from the book-running managers.