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Valley National为2036年到期的5亿美元次级票据定价

2026-05-12 05:55

  • Valley National Bancorp (NYSE: VLY) on Monday said it priced $500 million of fixed-to-floating rate subordinated notes due 2036.
  • The notes will carry a 6.219% fixed interest rate through June 1, 2031, after which the rate will float at a spread of 243 basis points over a three-month term SOFR, the company said.
  • Valley said it intends to use the proceeds to redeem or repay its outstanding 3.00% fixed-to-floating rate subordinated notes due June 15, 2031, and for general corporate purposes.
  • The offering is expected to close on May 14, subject to customary conditions, the company said.
  • The notes are intended to qualify as Tier 2 capital for regulatory purposes.
  • Source: Press Release

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