Company News

  • Updated: June 25, 2012 - 7:08 PM
NEW BUSINESS

Nash Finch Co., Edina, will open Family Fresh Markets stores in River Falls, Wis., Tuesday and Farmington on Wednesday. These stores are the third and fourth Family Fresh Market locations opened by the company.

DEBT AND EQUITIES

TCF Financial Corp., Wayzata, raised gross proceeds of $172.5 million through its previously announced public offering of depositary shares. In connection with the offering, TCF issued 6.9 million depositary shares, including 900,000 shares issued pursuant to the full exercise of the underwriters' overallotment option, at a public offering price of $25 per depositary share. Morgan Stanley & Co. and UBS Securities acted as joint book-running managers. Net proceeds of the offering to TCF after deducting underwriting discounts and commissions and estimated offering expenses were about $166.6 million. TCF expects to use the net proceeds of the offering to redeem all of its $115.0 aggregate principal amount of 10.75 percent junior subordinated notes -- which in turn will lead to redemption of the 10.7 percent capital securities, series I and the 10.75 percent common securities, series I issued by TCF Capital I -- and for general corporate purposes.

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