Zions prices $500 million fixed-to-floating senior notes due 2029
ZION•Zions prices $500 million senior notes offering
- Zions priced $500 million fixed-to-floating rate senior notes due Oct. 1, 2029 in a Section 3(a)(2) offering.
- The notes pay 5.239% to Oct. 1, 2028, then reset to compounded SOFR + 1.08%.
- Settlement is expected July 31, 2026; net proceeds are earmarked to reduce short-term borrowings.
- A receive-fixed fair value hedge was executed for the fixed-rate period to shift interest expense to floating.
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