Rochester, NY 7/15/2009 9:01:47 PM
ETFC - ETFC Received Offers Worth $1.8 Billion in Debt Exchange
E*TRADE Financial Corporation
E*TRADE Financial Corporation, ETFC
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Online brokerage E-Trade Financial Corp. said Thursday it has received tender offers worth $1.8 billion for a previously announced debt exchange offering.The company said about $429.6 million of 2011 notes and approximately $1.4 billion of 2017 notes were tendered by the July 1 deadline. That includes $230.2 million of 2011 notes and $1 billion of 2017 notes tendered by affiliates of Citadel Investment Group.The 2011 notes tendered represent Citadel's total holdings and about 97 percent of non-Citadel holdings, and the 2017 notes tendered represent the maximum of Citadel's commitment to participate in the exchange offer and about 99 percent of non-Citadel holdings.
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