OREANDA-NEWS. S&P Global Ratings today said it assigned its 'BB-' issue-level rating on E*TRADE Financial Corp.'s $400 million noncumulative perpetual preferred stock issue.

E*TRADE intends to use the proceeds to help pay for its purchase of Aperture New Holdings Inc., the parent of OptionsHouse (see "E*TRADE Financial Corp. 'BBB-' Ratings Affirmed On Announcement Of OptionsHouse Acquisition; Outlook Stable," published July 27, 2016). We expect the transaction to close in the fourth quarter of 2016.