debt
confidence high
sentiment neutral
materiality 0.60
Univest Financial closes $50M subordinated notes offering at 7.25% fixed rate
UNIVEST FINANCIAL Corp
- Issued $50M aggregate principal of 7.25% Fixed-to-Floating Rate Subordinated Notes due 2032.
- Fixed rate of 7.25% payable semi-annually through Nov 15, 2027; then floating at 3-month SOFR + 309.8 bps.
- Notes subordinated; issued under shelf registration statement on Form S-3 (File No. 333-253668).
- Indenture with U.S. Bank Trust Company as trustee dated Nov 15, 2022.
- Proceeds from offering used for general corporate purposes.