* To buy back $200 mln worth preferred shrs from Treasury
* Warburg Pincus and affiliates to buy 2.1 mln shrs
Dec 20 Webster Financial Corp (WBS.N) said it
will sell 6.6 million shares and use the proceeds to buy back
the remaining $200 million of preferred shares issued to the
U.S. Treasury as part of the government's financial bailout
Private equity firm Warburg Pincus and one of its
affiliates, each an existing stockholder, have agreed to
purchase 2.1 million shares of Webster's common stock, the
company said in a statement.
The Waterbury, Connecticut-based company had received $400
million in 2008 under the U.S. government's bailout program.
Barclays Capital will be the book-running manager for the
common stock offering.
Shares of the company closed at $18.49 on Monday on the New
York Stock Exchange. The stock has gained 14 percent since
early March, when Webster announced its first repurchase from
the U.S. government.
(Reporting by Sweta Singh in Bangalore; Editing by Roshni