SANTA CLARA, Calif.,
June 2, 2020 /PRNewswire/ -- SVB
Financial Group ("SVB") (NASDAQ: SIVB) today priced an underwritten
offering of $500 million in aggregate
principal amount of its 3.125% senior notes due 2030 (the
"Notes"). The Notes will be sold at 99.923% of the principal
amount and will bear interest semi-annually. The offering is
expected to close on June 5, 2020.
SVB intends to use the net proceeds of the offering for general
corporate purposes.
BofA Securities, Inc. and Morgan Stanley & Co. LLC are
acting as joint book-running managers for the offering. SVB Leerink
LLC is acting as co-manager.
The offering is being made pursuant to an effective shelf
registration statement, including a prospectus and
prospectus supplement, filed by SVB with the U.S. Securities and
Exchange Commission ("SEC"). Before investing, investors should
read the prospectus in that registration statement, the related
prospectus supplement and other documents SVB has filed with the
SEC for more complete information about SVB and the offering. These
documents may be obtained for free by visiting the SEC website at
www.sec.gov. Alternatively, SVB, any underwriter or any dealer
participating in the offering will arrange to send you
the prospectus and prospectus supplement contained in the
registration statement, together with the related prospectus
supplement, if you request it by contacting BofA Securities, Inc.
at 1-800-294-1322 or Morgan Stanley & Co. LLC toll-free at
1-866-718-1649. This press release is for informational purposes
only and does not constitute an offer to sell, or a solicitation of
an offer to buy, these securities, nor shall there be any sale of
these securities in any state or jurisdiction in which such an
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state or
jurisdiction.
About SVB Financial Group
For more than 35 years, SVB
Financial Group (NASDAQ: SIVB) and its subsidiaries have helped
innovative companies and their investors move bold ideas forward,
fast. SVB Financial Group's businesses, including Silicon Valley
Bank, offer commercial and private banking, asset management,
private wealth management, brokerage and investment services and
funds management services to companies in the technology, life
science and healthcare, private equity and venture capital, and
premium wine industries. Headquartered in Santa Clara, California, SVB Financial Group
operates in centers of innovation around the world.
SVB Financial Group is the holding company for all business
units and groups © 2020 SVB Financial Group. All rights reserved.
SVB, SVB FINANCIAL GROUP, SILICON VALLEY BANK, MAKE NEXT HAPPEN NOW
and the chevron device are trademarks of SVB Financial Group, used
under license. Silicon Valley Bank is a member of the FDIC and the
Federal Reserve System. Silicon Valley Bank is the California bank subsidiary of SVB Financial
Group.
Forward-Looking Statements
This press release contains
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Forward-looking
statements are subject to known and unknown risks and
uncertainties, many of which may be beyond SVB Financial Group's
control. Forward-looking statements are statements that are not
historical facts and generally can be identified by the use of such
words as "becoming," "may," "will," "should," "could," "would,"
"predict," "potential," "continue," "anticipate," "believe,"
"estimate," "seek," "expect," "plan," "intend," the negative of
such words or comparable terminology. Although SVB Financial Group
believes that the expectations reflected in SVB Financial Group's
forward-looking statements are reasonable, SVB Financial Group has
based these expectations on its current beliefs as well as its
assumptions, and such expectations may not prove to be correct.
Because forward-looking statements relate to the future, they are
subject to inherent uncertainties, risks and changes in
circumstances that are difficult to predict and many of which are
outside SVB Financial Group's control. SVB Financial Group's actual
results of operations and financial performance could differ
significantly from those expressed in or implied by SVB Financial
Group forward-looking statements (for example, due to the COVID-19
pandemic and its effects on the economic and business environments
in which SVB Financial Group operates). The forward-looking
statements included in this disclosure are made only as of the date
of this disclosure. SVB Financial Group does not intend, and
undertakes no obligation, to update these forward-looking
statements.
[SIVB-F]
SOURCE: SVB Financial Group
View original
content:http://www.prnewswire.com/news-releases/svb-financial-group-announces-pricing-of-500-million-3-125-senior-notes-offering-301069673.html
SOURCE SVB Financial Group