LAKE SUCCESS, N.Y.,
June 8, 2017 /PRNewswire/ -- Astoria
Financial Corporation (NYSE:AF) ("Astoria" or the "Company"), the
holding company for Astoria Bank
(the "Bank"), announced today the closing of its previously
announced underwritten public offering (the "Offering") of
$200 million aggregate principal
amount of 3.500% Senior Notes due 2020 (the "Notes"). The
Notes bear an interest rate of 3.500% per annum and were issued to
the public at 100.00% of their face value.
The Company estimates that the net proceeds of the Offering will
be approximately $197,800,000, after
deducting underwriting discounts, commission and estimated
transaction expenses payable by the Company. The
Company expects to use the net proceeds of the Offering to repay
its 5.000% Senior Notes due June 19,
2017 and for general corporate purposes.
Sandler O'Neill + Partners, L.P. acted as the sole book-running
manager for the Offering. Macquarie Capital (USA) Inc. acted as co-manager for the
Offering. Arnold & Porter Kaye Scholer LLP served as
outside legal counsel to the Company. Hogan Lovells US LLP
served as outside legal counsel to the underwriters.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy the Notes, nor shall there by any
offer or sale of the Notes in any state or jurisdiction in which
such offer, solicitation or sale would be unlawful. The Company
conducted the Offering pursuant to an effective Registration
Statement on Form S-3 (File No. 333-204555) under the Securities
Act of 1933, as amended (the "Registration Statement"). The
Offering was made solely by means of a prospectus supplement and
accompanying base prospectus included in the Registration
Statement. Investors should read the base prospectus, the
prospectus supplement and the other documents that the Company has
filed with the Securities and Exchange Commission (the "SEC") for
more complete information about the Company and the Offering.
Investors may obtain these documents without charge by visiting the
SEC website at www.sec.gov. Alternatively, copies of the prospectus
supplement and the base prospectus relating to the Offering may be
obtained from Sandler O'Neill + Partners, L.P., 1251 Avenue
of the Americas, 6th Floor, New York,
NY 10020, (866) 805-4128.
About Astoria Financial Corporation
Astoria Financial Corporation, with assets of $14.3 billion, is the holding company for
Astoria Bank. Established in 1888,
Astoria Bank, with deposits in
New York totaling $9.0 billion, is the second largest thrift
depository in New York and
provides the customers and local communities it serves with quality
financial products and services through 88 convenient banking
branch locations, a business banking office in Manhattan, and multiple delivery channels,
including its flexible mobile banking app. Astoria Bank commands a significant market share
in the attractive Long Island
market, which includes Brooklyn,
Queens, Nassau, and Suffolk counties with a population exceeding
that of 38 individual states. Astoria
Bank originates multi-family and commercial real estate
loans, primarily on rent controlled and rent stabilized apartment
buildings, located in New York
City and the surrounding metropolitan area and originates
residential mortgage loans in New York
State, the District of
Columbia and eight other states through its banking and loan
production offices in New
York.
Cautionary Statements Regarding Forward-Looking
Information
This press release contains a number of forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended. These statements may be identified by the use
of such words as "anticipate," "believe," "could," "estimate,"
"expect," "intend," "may," "outlook," "plan," "potential,"
"predict," "project," "should," "will," "would," and similar terms
and phrases, including references to assumptions.
Forward-looking statements are based on various assumptions
and analyses made by us in light of our management's experience and
perception of historical trends, current conditions and expected
future developments, as well as other factors we believe are
appropriate under the circumstances. These statements are not
guarantees of future performance and are subject to risks,
uncertainties and other factors (many of which are beyond our
control) that could cause actual results to differ materially from
future results expressed or implied by such forward-looking
statements. These factors include, without limitation, the
following: the timing and occurrence or non-occurrence of events
that may be subject to circumstances beyond our control;
increases in competitive pressure among financial institutions or
from non-financial institutions; changes in the interest rate
environment; changes in deposit flows, loan demand or collateral
values; changes in accounting principles, policies or guidelines;
changes in general economic conditions, either nationally or
locally in some or all areas in which we do business, or conditions
in the real estate or securities markets or the banking industry;
legislative or regulatory changes, including those that may be
implemented by the new administration in Washington, D.C; supervision and examination
by the Office of the Comptroller of the Currency, the Board of
Governors of the Federal Reserve System and the Consumer Financial
Protection Bureau; effects of changes in existing U.S. government
or government-sponsored mortgage programs; our ability to
successfully implement technological changes ; our ability to
successfully consummate new business initiatives;
litigation or other matters before regulatory agencies, whether
currently existing or commencing in the future; or our ability to
implement enhanced risk management policies, procedures and
controls commensurate with shifts in our business strategies and
regulatory expectations.
We have no obligation to update any forward-looking
statements to reflect events or circumstances after the date of
this press release.
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SOURCE Astoria Financial Corporation
