Argentina central bank holds reference rate steady after eight cuts
BUENOS AIRES, Sept 27 Argentina's central bank held its reference rate at 26.75 percent on Tuesday, ending an eight-week cutting cycle as policymakers try to damp inflation.
* To offer 7.6 mln shrs
* Sees proceeds of $86.6 mln, up from prior $50 mln plans
* Shares rise 5 pct before the bell
March 16 Oriental Financial Group Inc (OFG.N) said Tuesday it priced a 7.6 million share offering at $11.40 apiece.
The Puerto Rico-based company, which expects gross proceeds of about $87 million from the offering, earlier planned to raise $50 million from the offering.
Shares of the company rose 5 percent to $12.20 in pre-market trade.
The offer price represents a discount of about 2 percent to the stock's close Monday on the New York Stock Exchange.
Oriental said it intends to use proceeds from the issue for general corporate purposes, including possible participation in government assisted transactions in Puerto Rico.
Underwriters will have an over-allotment option of about 1.1 million shares.
Keefe Bruyette & Woods is the sole book-running manager for the offering. (Reporting by Abhinav Sharma in Bangalore; Editing by Gopakumar Warrier)
NEW YORK, Sept 27 Royal Bank of Scotland Group Plc will pay $1.1 billion to resolve a U.S. regulator's claims that it sold toxic mortgage-backed securities to credit unions that later failed, the U.S. National Credit Union Administration said on Tuesday.
CHICAGO, Sept 27 Bonds sold by U.S. states, cities, schools and other issuers in the municipal market could be held as liquid assets by banks under legislation introduced on Tuesday in the U.S. Senate, bolstering the case for purchasing the debt while helping financial institutions weather market crises.