First Keystone closes $32.5 million subordinated notes offering
FKYS•First Keystone completed a $32.5 million private placement of fixed-to-floating rate subordinated notes due 2036. It will use $25 million to redeem notes due Dec. 31, 2030, and allocate the remainder for general corporate purposes.
1. Offering proceeds
First Keystone completed a $32.5 million private placement of fixed-to-floating rate subordinated notes due 2036. The company will use $25 million of the proceeds to redeem subordinated notes due Dec. 31, 2030, and allocate the remaining funds for general corporate purposes.
2. Call option
The issuer’s call option begins on interest payment dates on or after Sept. 30, 2031.
