FB Financial prices $125 million subordinated notes offering
FBK•FB Financial priced a $125 million offering of subordinated notes due 2036, with proceeds intended for general corporate purposes, including capital support for FirstBank growth.
1. Offering terms
The notes carry a fixed interest rate of 6.625% through Oct. 1, 2031. After that, the rate resets to Three-Month Term SOFR plus 205 basis points, with a zero floor.
2. Redemption terms
FB Financial may redeem the notes on or after Oct. 1, 2031, or earlier upon specified tax or regulatory capital events, at par plus accrued interest.
