Business First Bancshares, Inc. (BFST): debt financing — Business First Bancshares issues $85M subordinated notes due 2036 at 6.50% fixed rate

Business First Bancshares, Inc.

Sold $85M aggregate principal of 6.50% fixed-to-floating rate subordinated notes due 2036.
Notes bear 6.50% fixed through March 30, 2031, then 3-month SOFR + 300 bps quarterly.
Proceeds will redeem $66.93M of existing subordinated notes and support b1BANK capital.
Notes are unsecured, subordinated, structured as Tier 2 capital for regulatory purposes.
Private placement under Rule 506(b); UMB Bank is paying agent and registrar.

item 1.01 item 2.03 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Business First Bancshares, Inc. incurred senior notes of $85.0 million at 6.50% fixed-to-floating rate maturing 2036.

Instrument: senior notes
Principal: $85.0 million
Rate: 6.50% fixed-to-floating rate
Maturity: 2036
Event: incurrence

Exact text from the filing

On April 2, 2026, Business First Bancshares, Inc. (the “Company”) entered into a Subordinated Note Purchase Agreement (the “Purchase Agreement”) with certain qualified institutional buyers and accredited investors pursuant to which the Company sold and issued $85.0 million in aggregate principal amount of 6.50% fixed-to-floating rate subordinated notes due 2036 (the “Notes”) in a private placement transaction.

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Business First Bancshares, Inc. filing history →

Source: SEC EDGAR

accession 0001437749-26-011154

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