SAN JUAN, PR -- 06/09/09 -- Doral Financial Corporation (NYSE: DRL) ("Doral" or the "Company"), the holding establishment of Doral Bank, today announced the results of its proposition to commerce shares of Doral trite house and even the score a dough extra for leftover shares of Doral's preferred stock. The furnish expired on June 8, 2009. The Company announced that 298,986 shares of its 4.75% Perpetual Cumulative Convertible Preferred Stock, 228,173 shares of its 7.00% Noncumulative Monthly Income Preferred Stock, Series A, 217,339 shares of its 8.35% Noncumulative Monthly Income Preferred Stock, Series B, and 560,798 shares of its 7.25% Noncumulative Monthly Income Preferred Stock, Series C, were validly tendered and not withdrawn. Overall, $105.6 million liquidation volume of the Company's preferred shares was exchanged, which represents 18.4% of the aggregate liquidation entirety of its preferred shares.
The negotiation will issue in the issuance of approximately 3.95 million uncharted inferior shares. "We are walking on air to bang a celebrated dealing gift which resulted in the conversion of over $100 million of preferred shares. We persist to innervate our formation ignoring this fussy productive environment," said Glen R. Wakeman, CEO and President of Doral Financial Corporation.
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