secwatch.observer — SEC 8-K summary
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Issuer:     FIRST MERCHANTS CORP (FRME)
CIK:        0000712534
Form:       8-K
Filed at:   2026-09-23T22:22:23+00:00
Accession:  0001193125-26-399714
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

First Merchants prices $100M subordinated notes at 6.750% fixed-to-floating due 2036
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- $100M aggregate principal of 6.750% Fixed-to-Floating Subordinated Notes due 2036 priced Sept 23, 2026.
- Interest at 6.750% through Oct 1, 2031, then resets quarterly to 3-month Term SOFR + 202 bps.
- Redeemable at par on Oct 1, 2031 and thereafter; maturity Oct 1, 2036.
- Proceeds for general corporate purposes, including common share repurchases; Notes qualify as Tier 2 capital.
- Piper Sandler sole book-runner; closing expected on or about Sept 25, 2026.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/712534/000119312526399714/0001193125-26-399714-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/712534/000119312526399714/d172960d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-26-399714

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