Rochester,NY 8/26/2009 12:18:12 AM
E TRADE Financial Corporation,ETFC-Issues about $1.76 billion of convertible debentures
E TRADE Financial Corporation
E Trade Financial Corp , a discount brokerage under pressure from U.S. regulators to shore up its capital, informed on Tuesday that it issued about $1.76 billion of convertible debentures as part of a debt swap.
In June, the brokerage, which has a good trading business but suffered significant credit losses in mortgage lending, provided to swap newly issued zero-coupon convertible debt for notes due in 2011 and 2017.
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