SMARTFINANCIAL INC. (SMBK): debt financing — SmartFinancial issues $100M of 7.25% subordinated notes due 2035; to redeem up to $40M of 2028 notes

SMARTFINANCIAL INC.

Sold $100M aggregate principal of 7.25% Fixed-to-Floating Rate Subordinated Notes due 2035 at 100% of face value.
Interest fixed at 7.25% until Sep 1, 2030, then resets quarterly at 3-month SOFR plus 385 basis points.
Net proceeds for general corporate purposes, including redemption of up to $40M of outstanding 5.625% Notes due 2028.
Notes are unsecured, subordinated, qualify as Tier 2 capital; mature Sep 1, 2035; redeemable at par on/after Sep 1, 2030.
Issued via private placement under Section 4(a)(2) and Rule 506(b); registration rights agreement to allow exchange.

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

SMARTFINANCIAL INC. incurred senior notes of $100.0 million with certain institutional accredited investors and qualified institutional buyers at 7.25% per year maturing September 1, 2035.

Instrument: senior notes
Principal: $100.0 million
Counterparty: certain institutional accredited investors and qualified institutional buyers
Rate: 7.25% per year
Maturity: September 1, 2035
Event: incurrence

Exact text from the filing

On August 20, 2025, SmartFinancial, Inc. (the “Company”) entered into a Subordinated Note Purchase Agreement (the “Purchase Agreement”) with certain institutional accredited investors and qualified institutional buyers (the “Purchasers”), pursuant to which the Company sold and issued $100.0 million in aggregate principal amount of its 7.25% Fixed-to-Floating Rate Subordinated Notes due 2035 (the “Notes”).

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Source: SEC EDGAR

accession 0001558370-25-011698

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