Customers Bancorp issues $100M of 6.875% subordinated notes due 2036

Customers Bancorp, Inc.

Issued $100M aggregate principal of 6.875% Fixed-to-Floating Rate Subordinated Notes due January 15, 2036.
Interest fixed at 6.875% until Jan 15, 2031, then floats at 3-month SOFR plus 342 bps quarterly.
Redeemable at par at company's option from Jan 15, 2031; not subject to holder redemption.
Notes are unsecured, subordinated, rank junior to all senior debt, and not guaranteed by subsidiaries.

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