Butterfield Bank: Pricing Of Registered Offering
The Bank of Butterfield announced the pricing of a registered offering of $75 million aggregate principal amount of Butterfield’s 5.25% Fixed to Floating Rate Subordinated Notes due 2028.
“Butterfield intends to use the net proceeds from this offering to repay a portion of its outstanding indebtedness and for other general corporate purposes,” the Bank said in a filing with the BSX.
“The offering is expected to close on or about 24 May 2018, subject to the satisfaction of customary closing conditions.
“Sandler O’Neill & Partners and Wells Fargo Securities are acting as the joint bookrunning managers.”