Atlantic Union Bankshares launches USD 200 million fixed-to-floating subordinated notes due 2036 offering

Kroll Bond Rating Agency assigned an expected BBB (Stable) rating.

Keefe, Bruyette & Woods, a Stifel company, and Piper Sandler were named joint book-running managers.

Atlantic Union Bankshares announced a USD 200 million offering of Fixed-to-Floating Rate Subordinated Notes due 2036.

Proceeds are earmarked to redeem USD 168 million of 4.25% Fixed-to-Floating Rate Subordinated Notes due 2029. Remaining funds are targeted for general corporate purposes, including capital support for Atlantic Union Bank growth.