Doral Financial Extends Preferred Exchange Offers
SAN JUAN, PR–(Marketwire – March 11, 2010) – Doral Financial Corporation (NYSE: DRL) (“Doral” or the “Company”), the holding company of Doral Bank, today announced it has extended the expiration date until 11:59 p.m., New York City time, on March 19th, 2010 for its offers to exchange up to 16,500,000 shares of its common stock for issued and outstanding shares of its 7.00% Noncumulative Monthly Income Preferred Stock, Series A (“Series A Preferred Stock”), 8.35% Noncumulative Monthly Income Preferred Stock, Series B (“Series B Preferred Stock”), 7.25% Noncumulative Monthly Income Preferred Stock, Series C (“Series C Preferred Stock”), and 4.75% Perpetual Cumulative Convertible Preferred Stock (“Convertible Preferred Stock” and together the “Preferred Stock”). The exchange offers were scheduled to expire at 11:59 p.m., New York City time, on March 12, 2010. The Company is amending the registration sta