Independent Bank Corp. issues $300M of 7.25% subordinated notes due 2035

INDEPENDENT BANK CORP

Net proceeds of $297.0M from the offering; notes carry fixed 7.25% coupon through April 2030 then float at SOFR+353bps.
Maturity date April 1, 2035; notes are unsecured, subordinated obligations structurally subordinated to Rockland Trust liabilities.
Proceeds may be used to redeem Enterprise Bancorp's subordinated notes following the pending merger.
Underwriting agreement with Keefe, Bruyette & Woods and Piper Sandler & Co. signed March 20, 2025.

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