Co-Manager
AmeriBancShares
Debt Capital Markets
Subordinated Notes
Transaction Details
- On March 18, 2022, AmeriBancShares, Inc., the holding company of American National Bank & Trust, announced the closing of its $50 million private placement of subordinated notes
- The notes have a maturity date of March 31, 2032 and carry a fixed rate of interest of 3.75% for the first five years. Thereafter, the notes will pay interest at 3-month SOFR plus 201 basis points, resetting quarterly
- The Egan-Jones Ratings Company assigned a rating of A- to the Notes
- The Company plans to use the proceeds from the placement of the subordinated notes for the repayment of an existing holding company line of credit, for additional growth capital, and for general corporate purposes
About the company
AmeriBancShares, Inc. is the bank holding company for American National Bank & Trust, a Wichita Falls headquartered community bank with $1.4 billion in total assets. American National Bank & Trust strives to provide customers with the accounts and services needed to make their financial relationship as convenient as possible. ANB&T operates 11 full service branches plus a Loan Production Office “LPO” across North Texas. Visit https://www.amnat.com/ for more information.
Sources: Company Filings and Press Release.
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