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Zions 12-year note offering is raised to $500 million

Zions Bancorp. priced $500 million in 12-year subordinated notes Wednesday, upping a previously-announced offering of $250 million.

The issue is due on Sept. 15, 2015, and was priced at $99.804 to provide a yield-to-maturity of 6.02 percent. The bank said it plans to use the proceeds from the offering to repay outstanding debt and for other general purposes.

Goldman Sachs & Co. is the lead underwriter for the offering and will offer prospectus supplements when available.