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First Merchants定价1亿美元次级票据

2026-09-24 06:05

First Merchants Corporation (FRME) priced a $100M offering of 6.750% fixed-to-floating rate subordinated notes due 2036.
The notes will carry a 6.750% fixed interest rate through September 2031, then reset quarterly to an expected Three-Month Term SOFR plus 202 basis points.
The company expects the offering to close around September 25, 2026s
. Proceeds will be used for general corporate purposes, including potential repurchases of common shares.
The notes are intended to qualify as Tier 2 regulatory capital and may be redeemed at par beginning October 1, 2031.

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