Financial shares fairly flat in today's pre-market session.
In stocks news, Prospect Capital Corporation (
) says has provided a $75 million floating-rate senior-secured term
loan to support the recapitalization of American Broadband
Prospect has closed approximately $2.0 billion of originations
to date in the 2013 calendar year. Prospect closed more than $3.0
billion of originations in the 12 months ended June 30, 2013.
And, Sterling Financial Corporation (
) and Umpqua Holdings Corporation (
) have entered into a definitive agreement pursuant to which
Sterling will merge with and into Umpqua. The transaction will have
a total value of approximately $2 billion.
The combined organization will have approximately $22 billion in
assets, $15 billion in loans and $16 billion in deposits, with
5,000 associates and 394 stores across 5 states: Oregon,
Washington, Idaho, California and Nevada.
Upon completion of the merger, the company will operate under
the Umpqua Bank name and brand. STSA is up 12% in pre-market
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