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Company news

  • December 12, 2012 - 7:25 PM
NEW BUSINESS

Tonka Bay Equity Partners, Minnetonka, has made an investment in Engineered Speciality Products Inc., a Kennesaw, Ga.-based supplier of pressure and temperature instrumentation.

DEBT AND EQUITIES

Xcel Energy Inc., Minneapolis, declared a quarterly common dividend of 27 cents per share, payable Jan. 20, 2013, to shareholders of record on Dec. 27.

TCF Financial Corp., Wayzata, announced the pricing of its public offering of 4 million shares of 6.45 percent Series B Non-Cumulative Perpetual Preferred Stock at $25 per share for gross proceeds of $100 million. TCF has also granted the underwriters a 30-day option to purchase up to an additional 600,000 shares to cover over-allotments, if any, at the same price for potential additional gross proceeds of $15 million. Morgan Stanley & Co. and UBS Securities acted as joint book-running managers. RBC Capital Markets and Stifel, Nicolaus & Co. Inc. served as co-managers. TCF expects to use the net proceeds from the offering for general corporate purposes, which may include capital to support asset growth.

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