Hilltop Holdings in Texas to Issue Debt, Exit SBLF

By Colin Wilhelm April 07, 2015, 10:22 a.m. EDT 1 Min Read

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Hilltop Holdings in Lubbock, Texas, plans to issue $150 million in senior debt.

The $8.7 billion-asset company said in a regulatory filing that it expects to issue the 5% senior notes to institutional investors on Thursday.

Hilltop said it plans to use the capital raised from the debt issue to redeem $114.1 million in non-cumulative perpetual preferred stock and general corporate purposes.

A Hilltop spokeswoman said Tuesday that the preferred stock being eyed for redemption was issued as part of the Treasury Department's Small Business Lending Fund.

Colin Wilhelm

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