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home / news releases / SBT - Sterling Bancorp to redeem $65M subordinated notes due 2026

SBT - Sterling Bancorp to redeem $65M subordinated notes due 2026

Sterling Bancorp Inc.

2023-06-15 07:37:21 ET

  • Sterling Bancorp ( NASDAQ: SBT ), the holding company of Sterling Bank and Trust, F.S.B. has notified holders of 7.0% Fixed to Floating Subordinated Notes due April 2026 for redemption at 100% of the outstanding principal balance plus accrued but unpaid interest.
  • The $65M subordinated notes currently bear interest equal to the three-month LIBOR rate plus 5.82%.
  • The date set for redemption is July 15, 2023.
  • The $65M notes principal repayment will be funded by a dividend to be paid by the Bank to the Company.
  • Source: Press Release

For further details see:

Sterling Bancorp to redeem $65M subordinated notes due 2026
Stock Information
Company Name: Sterling Bancorp Inc.
Stock Symbol: SBT
Market: NASDAQ
Website: sterlingbank.com
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