Invesco today announced it has begun offering $400 million in additional common shares for what the company called “general corporate purposes,” including repayment of debt and company diversification.
“Today’s decision to add to Invesco’s shareholder equity increases both Invesco’s capital strength and balance sheet flexibility,” Martin L. Flanagan, president and CEO, said in a news release announcing the offering. “We believe in this current market this action gives us greater ability to take advantage of numerous near-term opportunities.”
Earlier today, State Street Corp. announced it is issuing a public offering of its common stock and a future offering of non-guaranteed senior notes, with hopes of using the proceeds to repay the $2 billion it borrowed late last year under the government’s Troubled Asset Relief Program.
