secwatch.observer — SEC 8-K summary
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Issuer:     Bankwell Financial Group, Inc. (BWFG)
CIK:        0001505732
Form:       8-K
Filed at:   2021-10-18T23:59:59+00:00
Accession:  0001505732-21-000218
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 2.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Bankwell issues $35M subordinated notes at 3.25% fixed; redeems $15.5M 5.75% notes
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- Issued $35M 3.25% fixed-to-floating subordinated notes due 2031; interest fixed at 3.25% for first 5 years then SOFR+233bps.
- Proceeds used for general corporate purposes including redemption of $15.5M of 5.75% subordinated notes due 2025.
- Redeemed the $15.5M 5.75% notes on Nov 15, 2021 at par plus accrued interest.
- Notes are unsecured subordinated obligations structured to qualify as Tier 2 capital.
- Sold via private placement to an institutional accredited investor; not registered under Securities Act.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1505732/000150573221000218/0001505732-21-000218-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1505732/000150573221000218/bwfg-20211014.htm
  HTML page:      https://secwatch.observer/filing/0001505732-21-000218

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