Zions Bancorp. reached equity-distribution deals with Deutsche Bank AG and Goldman Sachs Group Inc. to sell up to $200 million of stock, continuing Zions' effort to raise capital.
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Zions, of Salt Lake City, is trying to maintain its liquidity levels after it turned to the government's Troubled Asset Relief Program. It took $1.4 billion from Tarp in the wake of the financial crisis.
Wednesday's deal is similar to one Zions struck earlier this year with Deutsche Bank and Goldman Sachs for $425 million in stock, as well as a $250 million deal last September with Goldman Sachs alone. Under the Goldman-Deutsche Bank effort, $406.3 million of stock was sold.
