WESTERN ALLIANCE BANCORPORATION (WAL): debt financing — Western Alliance Bank issues $400M in subordinated notes at 6.537% due 2035

WESTERN ALLIANCE BANCORPORATION

Issued $400M aggregate principal of 6.537% Fixed Rate Reset Subordinated Notes due November 15, 2035.
Net proceeds to Western Alliance Bank of $397.2M after discounts and commissions.
Initial fixed rate of 6.537% through November 15, 2030; then resets to 5-year U.S. Treasury Rate plus 285 bps.
Notes intended to qualify as Tier 2 capital for bank regulatory purposes; proceeds for general corporate purposes.
Notes are unsecured, subordinated obligations, redeemable at par on or after November 15, 2030.

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

WESTERN ALLIANCE BANCORPORATION incurred senior notes of $400,000,000 aggregate principal amount at 6.537% maturing November 15, 2035.

Instrument: senior notes
Principal: $400,000,000 aggregate principal amount
Rate: 6.537%
Maturity: November 15, 2035
Event: incurrence

Exact text from the filing

On November 24, 2025, Western Alliance Bank (the “Bank”), a state member bank organized under the laws of the State of Arizona and the banking subsidiary of Western Alliance Bancorporation, a Delaware corporation (the “Company”), issued $400,000,000 aggregate principal amount of 6.537% Fixed Rate Reset Subordinated Notes due November 15, 2035 (the “Notes”).

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Source: SEC EDGAR

accession 0001628280-25-053807

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