U.S. Treasury to sell bank warrants

12:17, February 08, 2011      

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The U.S. Treasury Department announced Monday that it has planned to auction warrants it holds for Wintrust Financial Corporation.

Treasury said the sale of 1,643,295 warrants to purchase the common stock of the company would take place on Tuesday. The offering was expected to price through a modified Dutch auction. Deutsche Bank Securities Inc. is the sole book-running manager for this offering.

During the auction period, potential bidders for the warrants will be able to place bids at any price.

The sale is the latest effort by the U.S. government to recoup the costs of the 700 billion dollars financial bailout. In the past two weeks, the government has received 312.2 million U.S. dollars from the sale of warrants it held in Citigroup and 6.2 million U.S. dollars from the sale of warrants in Boston Private Financial Holdings.

Source: Xinhua

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