HOUSTON, April 11 /PRNewswire-FirstCall/ -- Franklin Bank Corp. announced today that, subject to market and other conditions, it is commencing an underwritten public offering of $100,000,000 of Contingent Convertible Senior Notes due 2027. The notes will be issued under Franklin's effective shelf registration statement previously filed with the Securities and Exchange Commission. Franklin intends to use the net proceeds from the offering to finance a portion of the purchase price of The First National Bank of Bryan in Bryan, Texas. The interest rate, conversion terms, price, and other terms of the notes will be determined by negotiations between Franklin and the underwriters. RBC Capital Markets Corporation and Bear, Stearns & Co. Inc. will act as the underwriters for the offering.
When available, a written prospectus and prospectus supplement meeting the requirements of Section 10 of the Securities Act of 1933 may be obtained from the following address or telephone number:
RBC Capital Markets Corporation Attention: Syndicate Desk One Liberty Plaza New York, NY 10006 Telephone: 612-371-2818
This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Company Overview
Franklin Bank Corp., headquartered in Houston, Texas, was formed in April 2002 and is now a $5.5 billion company. Franklin's common stock initiated trading on the NASDAQ in December 2003 under the ticker symbol FBTX. In May 2006, Franklin raised additional capital through a Preferred Stock offering that is now trading on the AMEX under the ticker symbol FBK-P. Franklin's community banking philosophy focuses on a high growth commercial lending approach outside the major metropolitan cities in Texas.
Forward-Looking Statements
This announcement includes forward-looking statements. These forward- looking statements include statements with respect to our anticipated notes offering. However, by their nature, these forward-looking statements involve numerous assumptions, uncertainties and opportunities, both general and specific. The risk exists that these statements may not be fulfilled. We caution readers not to place undue reliance on these forward-looking statements as a number of factors could cause future company results to differ materially from these statements.
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