Butterfield Announces Registered Offering

June 4, 2020 | 0 Comments

The Bank of N.T. Butterfield ”announced the pricing of a registered offering of $100 million aggregate principal amount of Butterfield’s 5.250% Fixed to Floating Rate Subordinated Notes due 2030.”

A spokesperson said, “Butterfield intends to use the net proceeds from this offering for general corporate purposes, which may include the repayment of a portion or all of its outstanding indebtedness.

“The offering is expected to close on or about June 11, 2020, subject to the satisfaction of customary closing conditions.

“Keefe, Bruyette & Woods, A Stifel Company, is acting as the book-running manager, with Barclays Capital acting as co-manager.

“This offering is being made only by means of a prospectus and related prospectus supplement. Copies of the preliminary prospectus supplement and the accompanying prospectus may be obtained from Keefe, Bruyette & Woods, A Stifel Company, at 1-800-966-1559. Electronic copies of these documents are also available on the website of the US Securities and Exchange Commission [the “SEC”], www.sec.gov.

“A registration statement relating to these securities has been filed with, and declared effective by, the SEC. This News Release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.”

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