UMB Financial prices $110M 6.250% subordinated notes due 2032

UMB FINANCIAL CORP

$110M aggregate principal of Fixed-to-Fixed Rate Subordinated Notes due 2032 priced at 100% of face value.
Interest: 6.250% fixed to Sept 2027, then 5-year UST + 2.298% to Sept 2032.
Net proceeds ~$107.9M; used for general corporate purposes including Tier 1 capital to UMB Bank.
Offering expected to close Sept 28, 2022; BofA Securities and J.P. Morgan are joint book-runners.
Notes qualify as Tier 2 capital for regulatory purposes.

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