debt
confidence high
sentiment neutral
materiality 0.45
Dime Community Bancshares prices $65M of 9.000% fixed-to-floating subordinated notes due 2034
Dime Community Bancshares, Inc. /NY/
- $65M aggregate principal; 9.000% fixed rate through July 15, 2029, then floating at 3-month SOFR + 495.1 bps.
- Matures July 15, 2034; callable at par on/after July 15, 2029; underwriters have 30-day option for additional $9.75M.
- Notes intended to qualify as Tier 2 regulatory capital; expected to list on Nasdaq under symbol DCOMG.
- Net proceeds for general corporate purposes, including organic growth and supporting capital ratios.
- Joint book-runners: Raymond James and KBW; co-managers: D.A. Davidson and Piper Sandler.