Provident Financial prices USD 175 million subordinated notes offering
PFS•Offering priced and proceeds planned
Provident Financial Services priced a USD 175 million offering of 6.5% Fixed-to-Floating Rate Subordinated Notes due 2036.
Proceeds are earmarked to repay USD 150 million of 2.875% Fixed-to-Floating Rate Subordinated Notes due 2031.
Funds are also slated to repay USD 20 million of variable rate Junior Subordinated Notes due 2033.
Settlement is expected around Aug. 24, 2026, subject to customary closing conditions.
