WATERBURY, Conn.--(BUSINESS WIRE)--April 7, 2004--Webster
Financial Corporation (NYSE: WBS) announced today an offering of $150
million of senior notes.
The notes, which are not redeemable prior to their maturity on
April 15, 2014, have an interest rate of 5.125% and were priced to
yield 5.187%. Moody's, Standard & Poor's and Fitch have rated the
notes as investment grade. Net proceeds from this offering will be
used to partially fund the approximately $185 million cash portion of
the purchase price of Webster's pending acquisition of FIRSTFED
AMERICA BANCORP, INC.
The underwriters for this transaction were Sandler O'Neill &
Partners, L.P.; Keefe, Bruyette & Woods, Inc. and Friedman Billings
Ramsey & Co., Inc.
This press release does not constitute an offer to buy or a
solicitation to sell the senior notes. A prospectus related to this
offering may be obtained from Sandler O'Neill & Partners, L.P., 919
Third Avenue, 6th Floor, New York, NY 10022
Webster Financial Corporation is the holding company for Webster
Bank and Webster Insurance. With $14.6 billion in assets, Webster
provides business and consumer banking, mortgage, insurance, financial
planning, trust and investment services through 119 banking offices,
233 ATMs, a Connecticut-based call center and the Internet. Webster
Bank owns the asset-based lending firm Webster Business Credit
Corporation, the insurance premium finance company Budget Installment
Corp., Center Capital Corporation, an equipment finance company
headquartered in Farmington, Connecticut and Webster Trust Company,
N.A.
For more information about Webster, including past press releases
and the latest Annual Report, visit the Webster website at
www.websteronline.com.
CONTACT: Webster Financial Corporation
Media:
Clark Finley, 203-578-2429
cfinley@westerbank.com
or
Investors:
Terry Mangan, 203-578-2318
tmangan@websterbank.com
SOURCE: Webster Financial Corporation