Webster Financial Corporation, the holdings firm for Webster Bank NA, had announced the pricing for the underwritten secondary offering by Warburg Pincus Private Equity X LP of a total volume of 8,744,850 shares.
After the offer, Warburg Pincus would have completely divested its shares over Webster's outstanding common shares of stock, as all of the shares comprising the offer are being sold by the private equity firm. As such, all the proceeds would be kept for the name of Warburg Pincus.
The joint bookrunners for the common stock offering would be JP Morgan and Deutsche Bank Securities. The offering is expected to be complted by May 13, 2013 and would be subject to customary closing conditions.
Webster Financial is the holding company for Webster Bank. The company has over US$20 billion in assets, with services from consumer, to retail, to mortgage, to trust and Internet banking for its individual and corporate banking activities.
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