Raymond James Issues Public Offering

Raymond James Financial, Inc. recently announced the pricing of a registered underwritten public offering of $300 million in aggregate principal amount of 8.60% senior notes due 2019 at a public offering price of 99.983% of principal amount. Raymond James says it will pay interest on the notes semi-annually on February 15 and August 15 beginning on February 15, 2010. Raymond James says that “the net proceeds of the offering are expected to fund capital contribution(s) to Raymond James Bank and to fund future growth of Raymond James’s domestic broker/dealer subsidiaries as well as be employed as working capital.”

According to the release announcing the offering, J.P. Morgan Securities Inc. and Citigroup Global Markets Inc. acted as joint bookrunners for the offering; Keefe, Bruyette & Woods, Inc. and Raymond James & Associates, Inc. acted as co-managers.