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Stock impact report

OceanFirst Financial Corp. Announces Pricing of Subordinated Notes Offering

OceanFirst Financial Corp. (OCFC) 
Last oceanfirst financial corp. earnings: 4/23 08:40 pm Check Earnings Report
US:NASDAQ Investor Relations: oceanfirstonline.com/home/home
Company Research Source: GlobeNewswire
RED BANK, N.J., April 29, 2020 (GLOBE NEWSWIRE) -- OceanFirst Financial Corp. (Nasdaq: “OCFC”) (the “Company”), the holding company for OceanFirst Bank N.A. (the “Bank”), today announced the pricing of its public offering of $125 million aggregate principal amount of 5.25% Fixed-to-Floating Rate Subordinated Notes due 2030 (the “Notes”). The price to the public for the Notes was 100% of the principal amount of the Notes.  Interest on the Notes will accrue at a rate equal to (i) 5.25% per annum from the original issue date to, but excluding, May 15, 2025, payable semiannually in arrears, and (ii) a floating rate per annum equal to a benchmark rate, which is expected to be Three-Month Term SOFR (as defined in the Notes), plus a spread of 509.5 basis points from, and including, May 15, 2025, payable quarterly in arrears. The Notes are intended to qualify as Tier 2 capital for regulatory purposes. This offering is expected to close on May 1, 2020, subject to the satisfaction of customar Show less Read more
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