SAN FRANCISCO, May 19 /PRNewswire-FirstCall/ -- Providian Financial
Corporation (NYSE: PVN) today announced that it intends to offer
$150,000,000 of Convertible Notes due 2008. JPMorgan and Morgan Stanley will
serve as joint book-running managers and Deutsche Bank Securities and Goldman
Sachs & Co. will serve as co-managers. The underwriters will have a 13-day
option to purchase up to $22,500,000 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 J.P. Morgan Securities Inc. at One Chase
Manhattan Plaza, Room 5B, New York, NY 10081, or from Morgan Stanley & Co.
Incorporated, 1585 Broadway, New York, NY 10016.
San Francisco-based Providian Financial is a leading provider of credit
cards and deposit products to customers throughout the U.S.
SOURCE Providian Financial Corporation
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Related links:
http://www.providian.com
CONTACT:
Alan Elias of Providian Financial,
+1-415-278-4189
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