{"schema_version":"secwatch.filing_event.v1","accession":"0001628280-25-053807","form_type":"8-K","ticker":"WAL","cik":"0001212545","company_name":"WESTERN ALLIANCE BANCORPORATION","filed_at":"2025-11-24T23:59:59+00:00","discovered_at":"2026-05-14T18:02:38.955023+00:00","generated_at":"2026-05-16T17:15:39.963229+00:00","sec_items":["2.03","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.6,"calibrated_materiality_score":0.6,"confidence":"high","headline":"Western Alliance Bank issues $400M in subordinated notes at 6.537% due 2035","bullets":["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."],"urls":{"canonical":"https://secwatch.observer/filing/0001628280-25-053807","json":"https://secwatch.observer/filing/0001628280-25-053807.json","markdown":"https://secwatch.observer/filing/0001628280-25-053807.md","text":"https://secwatch.observer/filing/0001628280-25-053807.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1212545/000162828025053807/0001628280-25-053807-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1212545/000162828025053807/wal-20251124.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-16T17:15:39.963229+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"01a15c5d3918c5a4288586fd56e953d94beb6802","claim":"WESTERN ALLIANCE BANCORPORATION incurred senior notes of $400,000,000 aggregate principal amount at 6.537% maturing November 15, 2035.","evidence_excerpt":"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”).","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1212545/000162828025053807/0001628280-25-053807-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"senior notes"},{"label":"Principal","value":"$400,000,000 aggregate principal amount"},{"label":"Rate","value":"6.537%"},{"label":"Maturity","value":"November 15, 2035"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}