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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; jeff.bater@dowjones.com

Stock News for Webster (WBS)
DateTimeHeadline
03/15/201506:57:31Dividend Challengers (And Near-Challengers): 51 Increases Expected...
02/18/201511:45:00Webster to Make Presentation at Investor Conference
02/13/201516:05:00Webster Sets Date for Annual Shareholders Meeting
02/11/201511:30:00Webster Bank Announces New EVP in Community Bank
01/27/201516:15:00Webster Financial Corporation Declares Common Dividend
01/22/201507:30:00Webster Reports 2014 Fourth Quarter Earnings
01/21/201512:30:00Webster Bank Announces New EVP to Lead Middle Market Banking
01/13/201516:15:00Webster Financial Completes Acquisition of Health Savings Account...
12/05/201409:15:00Webster Financial Corporation Announces Fourth Quarter 2014 Earnings...
11/25/201416:05:00Webster Financial Announces Receipt of Regulatory Approval to...
10/30/201416:50:00Webster to Make Presentation at Investor Conference
10/28/201416:45:00Webster Financial Corporation Declares Common Dividend
10/16/201407:30:00Webster Reports 2014 Third Quarter Earnings
09/23/201410:30:00Webster Financial Agrees to Acquire Health Savings Account Business...
09/22/201408:00:00Webster Financial Corporation Announces Third Quarter 2014 Earnings...
09/03/201409:00:00Webster to Make Presentation at Investor Conference
08/27/201414:30:00Webster Bank Names New Regional President in Greater Philadelphia...
08/25/201417:00:00Webster Bank's Chairman and CEO Issues ALS Ice Bucket Challenge
07/28/201416:15:00Webster Financial Corporation Declares Common Dividend
07/17/201407:30:00Webster Reports 2014 Second Quarter Earnings

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