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Parsippany, NJ, June 18, 2015 -- Day Pitney represented Valley National Bancorp in an issuance of a combined $215 million in preferred stock and debt.
Valley plans to use the proceeds general corporate purposes, potential strategic acquisitions and regulatory capital investments in its bank unit, Valley National Bank. The offerings are expected to close on June 19, 2015, subject to customary closing conditions.
Day Pitney also recently advised Valley in the acquisition of CNL Bancshares in Orlando, Fla., for $207 million in stock. This deal is expected to close in the fourth quarter.
Ron Janis led the Day Pitney team, which also included Henry Ko and Kendall Wilson.
