debt
confidence high
sentiment neutral
materiality 0.50
UMB Financial completes $110M subordinated notes offering at 6.25% fixed rate due 2032
UMB FINANCIAL CORP
- Completed $110M aggregate principal of 6.250% Fixed-to-Fixed Rate Subordinated Notes due 2032.
- Interest fixed at 6.250% through Sept 28, 2027, then resets to 5-year UST rate + 2.298%.
- Notes are unsecured, subordinated, and rank equally with existing subordinated debt.
- Redeemable at par after reset date (Sept 2027) or within 3 months of maturity, subject to Fed approval.
- Issued under existing indenture with Computershare Trust as trustee; net proceeds for general corporate purposes.