Zions Jumps Most Since 2010 on Plan to Repay U.S.: Denver Mover
Zions Bancorporation (ZION), the Salt Lake City-based lender, jumped the most in more than two years after announcing plans to issue $600 million in senior debt to help repay $1.4 billion in U.S. government bailout funds.
Zions rose 7.7 percent to $21.03 at 10:23 a.m. in New York trading after advancing as much as 9.8 percent, the most since January 2010. Zions said yesterday the Federal Reserve didn’t object to its capital plan submitted as part of the regulator’s stress tests.
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