NEW YORK, Sept. 14 /PRNewswire-FirstCall/ -- E*TRADE FINANCIAL Corporation
(NYSE: ET) announced today that it has priced its previously announced
offering of $450 million principal amount of senior notes. The $450 million
will be comprised of $100 million in additional 8% senior notes issued
pursuant to the Indenture dated June 8, 2004 (the "Additional Notes"), which
will be due in 2011, and new senior notes in the amount of $350 million that
will become due in 2013 (the "2013 Notes"). The Additional Notes offering was
priced at 103.45 to yield 7 1/8%. The 2013 Notes will bear interest at a rate
of 7 3/8% per annum. The offering of each of the Additional Notes and the
2013 Notes is expected to close on or about September 19, 2005.
The Company intends to use substantially all of the net proceeds from this
offering to fund the proposed acquisition of Harrisdirect from BMO Financial
Group.
The notes have not been registered under the Securities Act of 1933, as
amended, or applicable state securities laws, and unless so registered, may
not be offered or sold in the United States, except pursuant to an applicable
exemption from the registration requirements of the Securities Act of 1933, as
amended, and applicable state securities laws.
This press release shall not constitute an offer to sell or the
solicitation of an offer to sell or the solicitation of an offer to buy the
notes. This press release is being issued pursuant to and in accordance with
Rule 135c under the Securities Act of 1933, as amended.
Important Notice
E*TRADE FINANCIAL and the E*TRADE FINANCIAL logo are registered trademarks
or trademarks of E*TRADE FINANCIAL Corporation. The statements contained in
this news release that are forward-looking are based on current expectations
that are subject to a number of uncertainties and risks, and actual results
may differ materially. The uncertainties and risks include, but are not
limited to, changes in market activity, anticipated increases in the rate of
new customer acquisition, the conversion of new visitors to the site to
customers, the activity of customers and assets held at the institution,
seasonality, the development and enhancement of products and services,
competitive pressures (including price competition), system failures, economic
and political conditions, changes in consumer behavior and the introduction of
competing products having technological and/or other advantages. Further
information about these risks and uncertainties can be found in the
information included in the annual reports previously filed by E*TRADE Group,
Inc. or E*TRADE FINANCIAL Corporation with the SEC on Form 10-K (including
information under the caption "Risk Factors") and quarterly reports on Form
10-Q.
E*TRADE FINANCIAL Media Contact
Pam Erickson
E*TRADE FINANCIAL Corporation
617-296-6080
pam.erickson@etrade.com
E*TRADE FINANCIAL Investor Relations Contact
Adam Townsend
E*TRADE FINANCIAL Corporation
703-236-8719
adam.townsend@etrade.com
SOURCE E*TRADE FINANCIAL Corporation
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Related links:
http://www.etrade.com
CONTACT:
media, Pam Erickson, +1-617-296-6080, or
pam.erickson@etrade.com, or investors, Adam Townsend,
+1-703-236-8719, or adam.townsend@etrade.com, both of E*TRADE
FINANCIAL Corporation
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