Byline Bancorp extends $15M credit facility maturity to Oct 2023, switches to SOFR

BYLINE BANCORP, INC.

Revolving loan commitment remains at $15 million, maturity extended from Oct 7, 2022 to Oct 6, 2023.
Interest rate benchmark changed from LIBOR to SOFR (Term SOFR + 195 bps) with a floor of 2.00%.
Existing LIBOR-based loans converted to SOFR loans with 1-month interest period; no breakage fees.
Amendment updates definitions and loan procedures; no change to negative pledge agreement.

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