E*TRADE Financial Announces Proposed Public Offering of Senior Notes Totaling $435M

E*TRADE Financial Corporation ETFC today announced that it proposes to offer, subject to market and other considerations, $435 million in aggregate principal amount of senior notes due 2016. Actual terms of the notes, including the interest rate, principal amount, and redemption provisions, will depend on market conditions at the time of pricing. E*TRADE will use the net proceeds from the sale of the notes to redeem all of its outstanding 7.375% Senior Notes due 2013, totaling approximately $414.7 million aggregate principal amount, including paying the associated redemption premiums, accrued interest and related fees and expenses.