First Interstate BancSystem定价1.23亿美元次级票据

• First Interstate BancSystem (NASDAQ:FIBK) priced its public offering of $125 million aggregate principal amount of 7.625% fixed-to-floating rate subordinated notes due 2035.
• Interest on the notes will accrue at a rate equal to (i) 7.625% per annum from the original issue date to, but excluding, June 15, 2030, payable semiannually in arrears, and (ii) a floating rate per annum equal to a benchmark rate, plus a spread of 398 basis points from, and including, June 15, 2030, payable quarterly in arrears. 
• The offering is expected to close on June 10, 2025.
• Net proceeds will be approximately $123.1M.
• Net proceeds will be used to redeem the company’s existing 5.25% fixed-to-floating rate subordinated notes due 2030 and remaining for general corporate purposes.

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