Sterling Financial Amends Recap Raise
Sterling Financial Corp. (Nasdaq: STSA) today announced new terms of its recapitalization, including amendments to existing financing agreements from Warburg Pincus and THL Partners. The bank holding company now plans to raise a total of $730 million, including $171 million from each of the two private equity firms. THL originally agreed to invest $175 million, but then lowered that to $138 million -- in order to match a subsequent commitment from Warburg Pincus.
20 August 2010•5 mins read
