Columbia Banking System prices USD 250 million subordinated notes offering
COLB•Columbia Banking System prices subordinated notes offering
- Columbia Banking System priced a USD 250 million offering of 6.721% fixed-to-fixed rate subordinated notes due 2036.
- Settlement expected Sept. 18, subject to customary closing conditions.
- Coupon fixed at 6.721% through Sept. 18, 2031; resets to five-year U.S. Treasury rate plus 195 basis points.
- Proceeds earmarked for general corporate purposes, Tier 2 capital support; up to USD 250 million to be returned to the parent.
- Returned capital targeted for redemption of certain outstanding trust preferred securities.
