debt
confidence high
sentiment neutral
materiality 0.60
Eagle Financial Services completes $30M subordinated notes offering
EAGLE FINANCIAL SERVICES INC
- Issued $30M aggregate principal of 4.50% Fixed-to-Floating Rate Subordinated Notes due April 1, 2032.
- Fixed rate 4.50% through April 1, 2027, then resets quarterly to 3-month SOFR plus 235 bps.
- Company may redeem at par on any interest payment date starting April 1, 2027.
- Proceeds for general corporate purposes and capital contribution to Bank of Clarke County.
- Notes intended to qualify as Tier 2 capital for regulatory purposes.