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Stock impact report

First Financial Bancorp. Announces Pricing of Subordinated Notes Offering

First Financial Bancorp. (FFBC) 
Last first financial bancorp. earnings: 4/20 04:15 pm Check Earnings Report
US:NASDAQ Investor Relations: snl.com/irw/corporateprofile/100255
Company Research Source: PR Newswire
CINCINNATI, April 24, 2020 /PRNewswire/ -- First Financial Bancorp. (NASDAQ: FFBC) ("First Financial" or the "Company") announced today the pricing of its public offering of $150 million aggregate principal amount of 5.25% fixed-to-floating rate subordinated notes due 2030 (the "Subordinated Notes").  The Subordinated Notes will be issued to the public at 100% of par.  The Subordinated Notes will have an initial fixed interest rate of 5.25% to, but excluding May 15, 2025, payable semi-annually in arrears.  From, and including, May 15, 2025, the interest rate on the Subordinated Notes will reset quarterly to a floating rate per annum equal to a benchmark rate, which is expected to be the then-current three-month term SOFR, plus 509 basis points, payable quarterly in arrears. The Subordinated Notes will mature on May 15, 2030.  The Company intends to use the net proceeds from the offering, after deducting underwriting discounts, commissions and estimated transaction expenses, for genera Show less Read more
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