SANTA CLARA, Calif.,
Jan. 26, 2015 /PRNewswire/
-- SVB Financial Group (Nasdaq: SIVB) today priced an
underwritten offering of $350 million
in aggregate principal amount of its 3.5% senior notes due 2025
(the "Notes"). The Notes will be sold at 99.916% of the
principal amount and will bear interest semiannually. The
offering is expected to close on January 29,
2015.
The Company intends to use the net proceeds from the offering
for general corporate purposes. General corporate purposes may
include working capital; capital expenditures; capitalizing the
Company's principal subsidiary, Silicon Valley Bank (the "Bank");
and continued lending to clients through the Bank.
The offering is being made solely by means of a prospectus
supplement and an effective registration statement, including a
prospectus, filed with the Securities and Exchange Commission.
Before investing, investors should read the prospectus supplement
and the accompanying prospectus and other documents the Company has
filed with the Securities and Exchange Commission for more complete
information about the Company and this offering.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy securities and shall not constitute
an offer, solicitation or sale in any jurisdiction in which such
offer, solicitation or sale is unlawful.
J. P. Morgan Securities LLC and Merrill Lynch, Pierce, Fenner
& Smith Incorporated are serving as the joint book-running
managers of this offering. A copy of the prospectus supplement and
the accompanying prospectus relating to the offering may be
obtained from J. P. Morgan Securities LLC, Investment Grade
Syndicate Desk, 383 Madison Avenue, New
York, New York 10179, telephone: 212-834-4533, or Merrill
Lynch, Pierce, Fenner & Smith Incorporated, 222 Broadway,
New York, New York 10038, Attn:
Prospectus Department, telephone: 1-800-294-1322, email:
dg.prospectus_requests@baml.com.
About SVB Financial Group
For more than 30 years, SVB Financial Group and its subsidiaries
have helped innovative companies and their investors move bold
ideas forward, fast. SVB Financial Group serves companies in
technology-related, life science and healthcare, venture capital
and private equity, and premium wine industries. Along with
commercial, investment, international and private banking services
provided by Silicon Valley Bank, the Company offers funds
management, business valuation services, broker-dealer
transactions, asset management and private wealth management.
Headquartered in Santa Clara,
California, SVB Financial Group operates in centers of
innovation in the U.S. and around the world.
Banking services are provided by Silicon Valley Bank, Member
FDIC. SVB Financial Group and Silicon Valley Bank are members of
the Federal Reserve System.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the federal securities laws. These forward-looking
statements include our statements regarding our offering of senior
notes and our intended use for the proceeds of the offering. These
forward-looking statements are subject to risks and uncertainties,
including, among others, adverse developments in the capital
markets in general or in the markets for securities of financial
institutions in particular; changes in legislation or regulatory
requirements affecting financial institutions; changes in the
interest rate environment; adverse changes in general economic
conditions; and other risk factors contained in the registration
statement on Form S-3 filed with the Securities and Exchange
Commission on January 22, 2015 and
the preliminary prospectus supplement relating to the offering
filed with the Securities and Exchange Commission on January 26, 2015.
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SOURCE SVB Financial Group