Webster to offer $225 million non-cumulative perpetual convertible preferred stock
Webster Financial Corporation , the holding company for Webster Bank, NA, announced today that it intends to offer 225,000 shares, or $225 million aggregate liquidation preference, of non-cumulative perpetual convertible preferred stock.
Lehman Brothers Holdings Inc, an investment bank beset by rumors of not having enough funding, said it is issuing $3 billion of convertible preferred shares.