SAN FRANCISCO, March 15 /PRNewswire-FirstCall/ -- Providian Financial
Corporation (NYSE: PVN) announced that it intends to offer $250,000,000 of
Senior Accreting Convertible Notes due 2016. Citigroup, Goldman, Sachs & Co.
and Morgan Stanley will serve as joint book-running managers and JPMorgan and
Deutsche Bank Securities will serve as co-managers. The underwriters will
also have an option to purchase up to $37,500,000 additional notes from the
Company to cover over-allotments, if any. The notes will be convertible into
shares of Providian Financial's common stock upon the achievement of a
predetermined stock price or the satisfaction of other conditions.
The offering of the notes may be made only by means of a prospectus, a
copy of which can be obtained from Citigroup Global Markets Inc., Brooklyn
Army Terminal, 140 58th Street, Brooklyn, NY 11220, Attn: Prospectus
Department, from Goldman, Sachs & Co. at 85 Broad Street, New York, NY 10004,
or from Morgan Stanley & Co. Incorporated, 1585 Broadway, New York, NY 10036,
Attn: Prospectus Department.
About Providian
San Francisco-based Providian Financial (http://www.providian.com) is a leading
provider of credit cards and deposit products to customers throughout the U.S.
By combining experience, analysis, technology, and outstanding customer
service, Providian seeks to build long-lasting relationships with its
customers by providing products and services that meet their evolving
financial needs.
SOURCE Providian Financial Corporation
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Related links:
http://www.providian.com
CONTACT:
Alan Elias, Media Relations of Providian
Financial Corp., +1-415-278-4189
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