New Issue-Popular Inc sells $400 mln in perpetuals

May 22 (Reuters) - Popular Inc (BPOP.O: Quote, Profile, Research, Stock Buzz), the bank holding
company for Banco Popular de Puerto Rico, on Thursday sold $400
million of non-cumulative perpetual preferred, said market
sources.

The size of the deal was increased from the originally
planned $350 million.

UBS Investment Bank and Popular Securities were the joint
bookrunning managers for the sale.
BORROWER: POPULAR INC
AMT $400 MLN* COUPON 8.25 PCT MATURITY PERPETUAL
TYPE NON-CUM PFD ISS PRICE * FIRST PAY 6/30/2008
MOODY'S N/A YIELD N/A SETTLEMENT 5/28/2008
S&P N/A SPREAD N/A PAY FREQ MONTHLY
FITCH N/A NON-CALLABLE 5-YEARS**
* 16 MILLION SHARES, $25 PAR. $400 MILLION IN AGGREGATE.
** NON-CALLABLE UNTIL 5/28/2013.