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Stock impact report

MB Bancorp Inc. Completes $45 Million Subordinated Notes Offering [Yahoo! Finance]

Piper Sandler Companies (PIPR) 
Last piper sandler companies earnings: 5/1 08:04 am Check Earnings Report
Company Research Source: Yahoo! Finance
completed a private placement of $45 million aggregate principal amount of 6.50% Fixed-to-Floating Rate Subordinated Notes due 2035 (the “Subordinated Notes”). The Subordinated Notes bear a fixed interest rate of 6.50% per annum for the first five years and will reset quarterly thereafter to the then current three-month Secured Overnight Financing Rate (SOFR) plus 306 basis points. The Company intends to utilize the net proceeds to redeem the Company's outstanding $30 million in aggregate principal amount of subordinated notes and for general corporate purposes. The notes are intended to qualify as Tier 2 capital for the Company for regulatory purposes and the portion that the Company contributes to the Bank will qualify as Tier 1 capital for the Bank. “We are extremely pleased with the success of this transaction, which enhances our financial flexibility and positions our enterprise to pursue strategic opportunities that will enhance our ability to deliver on our promise to conti Show less Read more
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