Cohen & Company amends junior subordinated notes to replace LIBOR with SOFR

Cohen & Co Inc.

Supplemental Indenture changes benchmark from LIBOR to SOFR on $28.995M notes, effective July 1, 2023.
Maturity remains July 30, 2037; no other terms changed.
Executed January 26, 2024 with Wells Fargo Bank as trustee.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Cohen & Co Inc. amended Supplemental Indenture No. 1 to Junior Subordinated Indenture with Wells Fargo Bank, N.A. (effective 2023-07-01).

Action: amendment
Agreement: notes offering
Counterparty: Wells Fargo Bank, N.A.
Effective: 2023-07-01

Exact text from the filing

On January 26, 2024, the Company and the Trustee entered into Supplemental Indenture No. 1 to Junior Subordinated Indenture (the “Supplemental Indenture”), which amended the Indenture to provide that the benchmark to determine the interest rates applicable to the Notes will be based on the Secured Overnight Financing Rate (SOFR), as provided in the Adjustable Interest Rate (LIBOR) Act.

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Cohen & Co Inc. filing history →

Source: SEC EDGAR

accession 0001104659-24-007730

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