HORIZON BANCORP INC /IN/ (HBNC): debt financing — Horizon Bancorp issues $100M in 7% subordinated notes due 2035; to redeem $56.5M of 5.625% notes

HORIZON BANCORP INC /IN/

Issued $100M aggregate principal of 7.00% Fixed-to-Floating Rate Subordinated Notes due 2035 in a private placement.
Initially 7.00% fixed interest through Sept 15, 2030, then three-month SOFR + 360bps quarterly floating rate.
Net proceeds used for general corporate purposes, balance sheet repositioning, and to redeem $56.5M of 5.625% notes due 2030.
Notes qualify as Tier 2 capital for regulatory capital purposes.

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

HORIZON BANCORP INC /IN/ incurred senior notes of $100.0 million with Wilmington Trust, National Association, as trustee at 7.00% Fixed-to-Floating maturing September 15, 2035.

Instrument: senior notes
Principal: $100.0 million
Counterparty: Wilmington Trust, National Association, as trustee
Rate: 7.00% Fixed-to-Floating
Maturity: September 15, 2035
Event: incurrence

Exact text from the filing

On August 29, 2025, Horizon Bancorp, Inc. (the “ Company ”) entered into a Subordinated Note Purchase Agreement (the “ Note Purchase Agreement ”) pursuant to which the Company issued and sold $100.0 million in aggregate principal amount of its 7.00% Fixed-to-Floating Rate Subordinated Notes due September 15, 2035

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HORIZON BANCORP INC /IN/ filing history →

Source: SEC EDGAR

accession 0002077096-25-000094

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