QCR Holdings closes $70M subordinated note offering to refinance existing debt

QCR HOLDINGS INC

Issued $50M of 6.875% Fixed-to-Floating Notes due 2035 and $20M of 7.225% Notes due 2037.
Proceeds used to redeem $50M of 5.125% Notes due 2030 and $20M of 5.25% Notes due 2030.
New notes qualify as Tier 2 capital; fixed rates switch to SOFR+350 bps and SOFR+375 bps after 5 and 7 years.
CEO Todd Gipple highlighted blended coupon below 7% as competitive; private placement with a local company.
No equity dilution; notes are unsecured, subordinated obligations with limited acceleration triggers.

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