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First Republic Bank (FRC) in San Francisco expects to raise up to $400 million through a debt offering.
June 11 -
Wintrust Financial (WTFC) of Rosemont, Ill., is planning to raise capital by issuing subordinated debt.
June 9
Commerce Bancshares (CBSH) of Kansas City, Mo., expects to sell $150 million in preferred stock, which it will use to buy back $200 million of its common stock.
The $22 billion-asset bank
The offering, which is expected to close on June 19, is being jointly managed by Morgan Stanley; Merrill Lynch, Pierce, Fenner & Smith; and J.P. Morgan Securities.
Commerce will then use the proceeds to repurchase $200 million of its common stock, under an agreement reached Thursday with Morgan Stanley. Commerce expects a "substantial majority of shares" to be delivered on June 19, it said in a press release. The remaining shares will be delivered within 12 months.
Commerce