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Issuer | n | Wilmington Trust Corporation | |||
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Note Type | n | Subordinated | |||
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Ratings (Moodys/S&P/Fitch) | n | A3/BBB+/A (Stable/Stable/Stable) | |||
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Aggregate Principal Amount | n | $200,000,000 | |||
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Pricing Date | n | March 27, 2008 | |||
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Settlement Date | n | April 1, 2008 | |||
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Maturity Date | n | April 2, 2018 | |||
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Coupon | n | 8.50% | |||
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Re-offer Yield | n | 8.50% | |||
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Market/ Re-offer Spread | n | T + 495.3 bps | |||
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Pricing Benchmark | n | 3.50% UST due 2/18 | |||
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Benchmark Price / Yield | n | 99.19+/3.547% | |||
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Interest Payment Dates | n | Semi-annually on April 1st and October 1st | |||
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First Interest Payment Date | n | October 1, 2008 | |||
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Call Provisions | n | Non-callable | |||
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Day Count Basis | n | 30/360 | |||
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Minimum Denominations | n | US$2,000 and integral multiples of US$1,000 in excess of such amount | |||
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Price to Public | n | 100% | |||
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Use of Proceeds | n | The Company intends to use the net proceeds from the sale of the notes to repay $125,000,000 aggregate principal amount of its 6 5/8% Subordinated Notes due 2008, which will mature on May 1, 2008, to partially fund the purchase of all of the issued and outstanding shares of capital stock of AST Capital Trust Company of Delaware, if such acquisition is completed, and for general corporate purposes. | |||
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Bookrunners | n | J.P. Morgan Securities Inc. | |||
n | Merrill Lynch & Co. | |||||
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Co-Managers | n | SunTrust Robinson Humphrey | |||
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CUSIP | n | 971807AD4 | |||
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ISIN | n | US971807AD44 | |||