Axos Financial prices $200M sub notes at 7.00% to refinance higher-cost 2030 notes

Axos Financial, Inc.

$200M 7.00% Fixed-to-Floating Rate Subordinated Notes due 2035 priced on Sept 16, closing Sept 19.
Net proceeds ~$197.2M after 1.25% underwriting discount; use: redeem $160.5M outstanding 2030 notes (4.875% fixed, set to re-price to ~9%) and support growth.
2030 notes conditional redemption notice issued Aug 29; redemption on Oct 1, 2025 subject to financing condition.
Notes rated BBB by Kroll Bond Rating Agency; interest fixed 7.00% to Oct 2030, then Three-Month Term SOFR + 379bps.
Joint book-runners: Keefe Bruyette & Woods and Raymond James; co-managers: B. Riley and Janney.

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