{"schema_version":"secwatch.filing_event.v1","accession":"0001104659-23-039131","form_type":"8-K","ticker":"MBIN","cik":"0001629019","company_name":"Merchants Bancorp","filed_at":"2023-03-30T23:59:59+00:00","discovered_at":"2026-05-14T18:03:45.922946+00:00","generated_at":"2026-06-17T09:15:29.775670+00:00","sec_items":["2.03","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.6,"calibrated_materiality_score":0.6,"confidence":"high","headline":"Merchants Bancorp issues $158M senior credit linked notes due 2028","bullets":["Issued $158M aggregate principal of senior credit linked notes due May 26, 2028.","Notes accrue interest at SOFR + 15.50%, payable monthly.","Net proceeds of ~$155M will be used for general corporate purposes.","Repayment linked to $1.13B reference pool of healthcare CRE loans; not secured by loans.","Transaction reduces risk-weighted assets and benefits regulatory capital ratios."],"urls":{"canonical":"https://secwatch.observer/filing/0001104659-23-039131","json":"https://secwatch.observer/filing/0001104659-23-039131.json","markdown":"https://secwatch.observer/filing/0001104659-23-039131.md","text":"https://secwatch.observer/filing/0001104659-23-039131.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1629019/000110465923039131/0001104659-23-039131-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1629019/000110465923039131/tm2310994d1_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-17T09:15:29.775670+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"610bc8968b9202d01834463333dbc225bbff7d70","claim":"Merchants Bancorp incurred senior notes of $158 million aggregate principal amount with Computershare Trust Company, N.A. at SOFR plus 15.50% maturing May 26, 2028.","evidence_excerpt":"On March 30, 2023, Merchants Bank of Indiana (the “Bank”), a wholly owned subsidiary of Merchants Bancorp (the “Company”), issued and sold $158 million aggregate principal amount of senior credit linked notes due May 26, 2028 (the “Notes”).","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1629019/000110465923039131/0001104659-23-039131-index.htm","confidence":0.98,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"senior notes"},{"label":"Principal","value":"$158 million aggregate principal amount"},{"label":"Counterparty","value":"Computershare Trust Company, N.A."},{"label":"Rate","value":"SOFR plus 15.50%"},{"label":"Maturity","value":"May 26, 2028"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}