Burke & Herbert Financial Services prices USD 100 million subordinated notes offering
Bitget2026/09/28 19:37- Burke & Herbert Financial Services priced a USD 100 million public offering of 7.00% Fixed-to-Floating Rate Subordinated Notes due 2036.
- Notes priced at 100% of principal; expected to close Sept. 30.
- Coupon set at 7.00% through Oct. 1, 2031; then floats at three-month term SOFR + 222 basis points.
- Proceeds earmarked for refinancing outstanding subordinated debt; remaining funds for general corporate purposes, including bank growth capital.
- Issuer may redeem starting Oct. 1, 2031 at par; earlier redemption permitted upon specified events.
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