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US Treasury Intends Selling Warrants In SunTrust, Webster

WASHINGTON -(Dow Jones)- The U.S. Treasury Department says it intends to sell warrant positions in two companies under a program designed to bail out Wall Street. Treasury Wednesday announced its intention to dispose of warrant positions in Sun Trust Banks Inc. (STI) and Webster Financial Corp. (WBS). Treasury received the warrants in consideration for investments made under the Troubled Asset Relief Program. Each company has repurchased Treasury's preferred stock investment. Over the next several weeks, Treasury intends to conduct auctions to sell the warrant positions. The warrants will be sold through public offerings, using a method that sets a market price by allowing investors to submit bids above a minimum price specified for each auction. Treasury has 17.9 million warrants in Sun Trust and 3.28 million in Webster. The strike price on one set of SunTrust warrants, 11.89 million, is $44.15, with an expiration date of Nov. 14, 2018. The strike price on the other set, 6.01 million, is $33.70, with an expiration date of Dec. 31, 2018. The strike price on the Webster warrants is $18.28, with an expiration date of Nov. 21, 2018. -By Jeff Bater, Dow Jones Newswires; 202 862 9249;

Stock News for Webster (WBS)
02/05/201614:31:00Webster to Make Presentation at Investor Conference
01/26/201614:21:00Webster Financial Corporation Declares Common Dividend
01/21/201607:30:00Webster Reports 2015 Fourth Quarter Earnings
01/11/201614:04:00Webster Bank Adds 3 More Banking Centers, Expands To 18 Locations...
12/24/201510:00:00Webster Financial Corporation Announces Fourth Quarter 2015 Earnings...
12/16/201518:19:00Webster Raises Prime Lending Rate to 3.50 Percent
12/11/201500:01:00Webster Bank To Open 14 Banking Centers In Greater Boston In...
10/28/201517:00:00Webster Promotes John R. Ciulla To President
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10/15/201507:30:00Webster Reports 2015 Third Quarter Earnings
09/17/201509:10:00Financial Sector Equities under Review -- Brandywine Realty Trust...
09/14/201517:15:00HSA Bank Investor Day and Teach-in 2015
09/09/201516:15:00Webster Financial Corporation Announces Third Quarter 2015 Earnings...
09/09/201516:05:00Webster to Make Presentation at Investor Conference
07/27/201517:07:00Webster Financial Corporation Declares Common Dividend
07/16/201507:30:00Webster Reports 2015 Second Quarter Earnings
06/30/201517:15:00Webster Financial Corporation Announces Second Quarter 2015 Earnings...
06/16/201519:34:00Webster Financial Corporation Releases Results of 2015 Dodd-Frank...
05/22/201514:48:00Webster Financial Corporation Provides Notice of Mandatory Conversion...
05/21/201514:30:00Webster Investor Day 2015

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