It hasn't been completed, the book runner hasn't closed the deal yet. However, they have indicated that they have enough orders. On the yahoo page or at the sec.gov, you can look up SBSA and see that they filed a $275M bond deal, Sr. Secured.
I doubt they will issue any new common anytime soon. Probably a year or more, if that happens. Why is the stock down today......I have no idea. It's thinly traded, it gets whipped around quite frequently. I'm guessing a lot of holders were waiting on this news to sell. The old expression, "Sell on good news.....". Also it's been up a lot since they announced the deal. I try not to rationalize short term movements in the stock market.