Regions Financial Corporation completed a $500 million offering of 20 million depositary shares, each representing a 1/40th interest in a share of its Non-Cumulative Perpetual Preferred Stock, Series F.
The depositary shares are listed for trading on the New York Stock Exchange. The offering raised gross proceeds of $500 million, which are being used to redeem Regions’ Series B preferred stock.
Regions Financial, with approximately $154.1 billion in assets, is one of the largest full-service providers of consumer and commercial banking, wealth management, mortgage and insurance products and services in the United States.
The S&C team advising Regions Financial included Jared Fishman, Irene Kim and Yiming Sun. Jeff Hochberg, Saul Brander and Tristan Hood advised on tax matters. Eli Dubin advised on ERISA matters.