Financial Advisor
Business First Bancshares, Inc.
Debt Capital Markets
6.750% Subordinated Notes Due 2033
Transaction Details
- Business First Bancshares, Inc. (“Business First”) (NASDAQ: BFST), the holding company for Business First Bank, today announced the completion of a private placement of $25 million of subordinated notes due December 31, 2033 to an affiliate of EJF Capital LLC
- The subordinated notes will bear interest, beginning on December 17, 2018, at an annual rate of 6.75% until December 17, 2028
- For the remainder of the term of the subordinated notes, which mature on December 31, 2033, the subordinated notes bear interest at a floating rate, reset quarterly, equal to 3-month LIBOR plus 369 basis point
- The subordinated notes have been structured to qualify as Tier 2 capital for Business First for regulatory capital purposes
About the company
Business First Bancshares, Inc., through its banking subsidiary Business First Bank, operates 27 offices, including 26 full-service banking centers, in markets across Louisiana and Texas. Business First Bank provides commercial and personal banking, treasury management, and wealth solutions services to small to midsize businesses and their owners and employees. Visit www.b1bank.com for more information.
Sources: Company Documents.
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(1)As of September 30, 2018. Total Assets, Net Loans and Deposits are proforma for the acquisition of Richland State Bank which closed on November 30, 2018, excluding purchase accounting adjustments
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