secwatch.observer — SEC 8-K summary
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Issuer:     VALLEY NATIONAL BANCORP (VLY)
CIK:        0000714310
Form:       8-K
Filed at:   2022-09-20T23:59:59+00:00
Accession:  0001193125-22-247735
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 2.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Valley National Bancorp prices $150M 6.25% subordinated notes due 2032; proceeds for social/green assets
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- Issued $150M aggregate principal of 6.25% Fixed-to-Floating Rate Subordinated Notes due Sept 30, 2032.
- Notes bear 6.25% fixed rate to Sept 30, 2027, then float at 3-month SOFR + 278 bps; intended as Tier 2 capital.
- Net proceeds of ~$147.5M (after underwriting discounts & expenses) to finance or refinance eligible social/green assets.
- Joint book-running managers: Piper Sandler & Co. and Morgan Stanley & Co. LLC; expected closing Sept 20, 2022.
- Issued under shelf registration statement (File No. 333-254696) with supplemental prospectus filed Sept 15, 2022.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/714310/000119312522247735/0001193125-22-247735-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/714310/000119312522247735/d405024d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-22-247735

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