MetLife $1.5 billion stock issue

Overview:

• MetLife made a tender offer for up to 59.85 million shares of its 6.5% of non-cumulative preferred stock, Series B.
• Goldman Sachs acted as deal manager for the tender offer. 
  To finance the tender offer, MetLife offered 1.5 million shares of its 5.25% fixed-to-floating rate non-cumulative preferred stock, Series C.
• The Series C offer was valued at $1.5 billion. 
• Goldman Sachs, BofA Merrill Lynch, Citigroup, JP Morgan and Morgan Stanley as bookrunners for the Series C offer.

Rani Mehta - Journalist