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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13
OR 15(D) OF THE SECURITIES
EXCHANGE ACT OF 1934
Date of Report: May 5, 1999
ORIENTAL FINANCIAL GROUP INC.
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(Exact Name of Registrant as Specified in its Charter)
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Commonwealth of Puerto Rico 001-12647 66-0538893
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(State or other Jurisdiction of Incorporation) (Commission File No.) (I.R.S. Employer
Identification No.)
Hato Rey Tower, Suite 501
268 Munoz Rivera Avenue
San Juan, Puerto Rico 00918
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (787) 766-1986
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ITEM 5. OTHER EVENTS
On May 5, 1999, Oriental Financial Group Inc. (the "Company") closed
the sale of 1,225,000 shares of its 7.125% Noncumulative Monthly Income
Preferred Stock, Series A, through a group of underwriters led by Santander
Securities Corporation of Puerto Rico at a price to the public of $25.00 per
share. The Company received proceeds of approximately $30 million from the
offering, before deducting expenses of the offering.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS
(c) Exhibits
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Exhibit No. Description of Document
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4 Certificate of Designation creating the 7.125%
Noncumulative Monthly Income Preferred Stock,
Series A (incorporated by reference to Exhibit
4.1 of the Company's Registration Statement on
Form 8-A filed with the SEC on April 30, 1999,
File No. 001-12647 ).
99* Press Release dated May 5, 1999.
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*Filed herewith.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Date: May 5, 1999 By: /s/ RAFAEL VALLADARES
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Rafael Valladares
Senior Vice President and
Controller (Principal Financial Officer)
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INDEX OF EXHIBITS
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Exhibit No. Description of Document Page No.
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4 Certificate of Designation creating the 7.125%
Noncumulative Monthly Income Preferred Stock, Series A
(incorporated by reference to Exhibit 4.1 of the Company's
Registration Statement on Form 8-A filed with the SEC on
April 30, 1999, File No. 001-12647).
99* Press Release dated May 5, 1999.
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*Filed herewith.
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FOR IMMEDIATE RELEASE
ORIENTAL FINANCIAL GROUP INC.
CLOSES SALE OF 1,225,000 SHARES OF PREFERRED STOCK
DATE: MAY 5, 1999
SAN JUAN, PUERTO RICO - ORIENTAL FINANCIAL GROUP INC. ("Oriental")
today announced that it had closed the sale of 1,225,000 shares of its 7.125%
Noncumulative Monthly Income Preferred Stock, Series A , through a group of
underwriters led by Santander Securities Corporation of Puerto Rico at a price
to the public of $25.00 per share.
Oriental is a bank holding company headquartered in San Juan, Puerto
Rico, subject to regulation and supervision by the Federal Reserve Board. As a
diversified financial institution, Oriental provides a wide range of financial
services to retail and institutional clients. Oriental's core businesses are
mortgage banking, trust and money management services, financial planning and
securities brokerage services, and a full range of consumer lending and banking
services provided through its network of twenty branches located throughout
Puerto Rico.
