AMTB - Amerant Bancorp closes $30M of fixed-to-floating rate subordinated notes offering

Amerant Bancorp (NASDAQ:AMTB) completed private placement of $30M in principal amount of its 4.25% Fixed-to-Floating Rate Subordinated Notes due 2032. The notes will bear annual interest rate of 4.25% from Mar.9, 2022 to Mar.15, 2027 with interest during this period payable semi-annually in arrears. Net proceeds to be used for general corporate purposes, which may include working capital, providing capital to support the organic growth of the company's main subsidiary, Amerant Bank, funding any opportunistic acquisition.

For further details see:

Amerant Bancorp closes $30M of fixed-to-floating rate subordinated notes offering