The U.S. Treasury Department announced Monday that it has planned to auction warrants it holds for Wintrust Financial Corporation.Treasury said the sale of 1,643,295 warrants to purchase the common stock of the company would take place on Tuesday. The offering was expected to price through a modified Dutch auction. blue timberland boots Deutsche Bank Securities Inc. is the sole book-running manager for this offering.During the auction period, potential bidders for the warrants will be able to place bids at any price.
The sale is the latest effort by the U.S. government to recoup the costs of the 700 billion dollars financial bailout. In the past two weeks, the government has received 312.2 million U.S. dollars from the sale of warrants it held in Citigroup and 6.2 million U.S. dollars from the sale of warrants in Boston Private Financial Holdings.U.S. stocks rose on Tuesday, timberland boots for women with the Federal Reserve’s maintaining of easy-money policy and strong economic data sending the Dow Jones industrial average and the Standard & Poor’s 500 index to their highest closing level in two years.”The economic recovery is continuing, though at a rate that has been insufficient to bring down unemployment,” the Fed said in a statement at the conclusion of its last scheduled meeting for this year.The central bank said, “Household spending is increasing at a moderate pace, but remains constrained by high unemployment, modest income growth, lower housing wealth, and tight credit.
“To boost the recovery and create jobs, the Federal Open Market Committee, a component of the Fed making key decisions about interest rates and the growth of the U.S. money supply, reaffirmed the 600 billion dollars purchase plan in bonds and repeated its pledge to leave the benchmark interest rate low for an “extended period.”Shortly after the Fed’s statement was mens timberland 6 inch released, the Dow hit 11514.08, its highest intraday level since September 2008. But before the closing the Dow narrowed its gains to 47.98 points, or 0.42 percent as investors turned their attention to the potential inflation risk caused by the continuing of quantitative easing policy, but still hit its two-year close high with 11,476.54.S&P 500 also reached its peak close since September 2008, up 1.13 points, or 0.09 percent, to 1,241.59.