---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-26-013385"
form_type: "8-K"
ticker: "NBHC"
cik: "0001475841"
company_name: "National Bank Holdings Corp"
filed_at: "2026-02-11T23:59:59+00:00"
generated_at: "2026-05-16T03:16:44.751150+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# NBHC closes $150M subordinated note offering at 5.875%, upsized from $100M

## Summary
- Issued $150M aggregate principal of 5.875% Fixed-to-Floating Rate Subordinated Notes due Feb 2036; net proceeds ~$147.3M.
- Offering upsized from $100M due to strong demand; notes qualify as Tier 2 capital for regulatory purposes.
- Fixed rate 5.875% for first 5 years, then floating at Term SOFR + 241 bps; maturity Feb 15, 2036.
- Proceeds used for general corporate purposes; Piper Sandler sole book-runner.

## SEC filing metadata
- accession: 0001104659-26-013385
- form_type: 8-K
- ticker: NBHC
- cik: 0001475841
- company_name: National Bank Holdings Corp
- filed_at: 2026-02-11T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 2.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1475841/000110465926013385/0001104659-26-013385-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1475841/000110465926013385/tm264856d8_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-26-013385
- JSON: https://secwatch.observer/filing/0001104659-26-013385.json
- Plain text: https://secwatch.observer/filing/0001104659-26-013385.txt

## Source-grounded claims
- claim_id: 493485d781414d7aa4b62707ec238c9c12ad995f
  claim: National Bank Holdings Corp incurred senior notes of $150,000,000 aggregate principal amount with Piper Sandler & Co. at 5.875% Fixed-to-Floating Rate maturing February 15, 2036.
  evidence_excerpt: the Company issued and sold $150,000,000 aggregate principal amount of 5.875% Fixed-to-Floating Rate Subordinated Notes due 2036
  evidence_url: https://www.sec.gov/Archives/edgar/data/1475841/000110465926013385/0001104659-26-013385-index.htm
- claim_id: 1874783461a41762d2521eda2fa4018935234661
  claim: National Bank Holdings Corp entered into Underwriting Agreement with Piper Sandler & Co. valued at $150,000,000 aggregate principal amount (effective 2026-02-09).
  evidence_excerpt: On February 9, 2026, National Bank Holdings Corporation (the “Company”), entered into an underwriting agreement (the “Underwriting Agreement”) with Piper Sandler & Co. (the “Underwriter”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1475841/000110465926013385/0001104659-26-013385-index.htm
- claim_id: f34644ee9375210399e08cc469b5170b481bc8d2
  claim: National Bank Holdings Corp entered into Indenture with U.S. Bank Trust Company, National Association (effective 2026-02-11).
  evidence_excerpt: The Notes were issued pursuant to an Indenture, dated as of February 11, 2026 (the “Base Indenture”), by and between the Company and U.S. Bank Trust Company, National Association, as trustee (the “Trustee”), as supplemented by the First Supplemental Indenture, dated as of February 11, 2026, by and between the Company and the Trustee (the “First Supplemental Indenture” and collectively with the Base Indenture, the “Indenture”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1475841/000110465926013385/0001104659-26-013385-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.