The offering will generate net proceeds of approximately $745 million (after underwriting discounts and commissions and before offering expenses) and will be used for general corporate purposes, including repurchases of outstanding senior debt securities pursuant to the tender offer announced earlier today, repurchases of our common stock pursuant to our authorized stock repurchase program, and repurchases or redemptions of other outstanding securities (including trust preferred securities). The offering is expected to close on April 30, 2013, subject to customary closing conditions.
Goldman, Sachs & Co. and Morgan Stanley & Co. LLC are serving as joint book-running managers for the offering. Barclays Capital Inc., Deutsche Bank Securities Inc., J.P. Morgan Securities LLC, Raymond James & Associates, Inc., Samuel A. Ramirez & Company, Inc. and Regions Securities LLC are serving as co-managers for the offering.
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