Sole Placement Agent
Franklin Financial Network, Inc.
Debt Capital Markets
Subordinated Notes
Transaction Details
- $20 million private placement of subordinated notes
- 10 year fixed-to-floating; non-callable for 5 years and a stated maturity of July 1, 2026
- Fixed rate of 7.00% for the first 5 years, and 3-month LIBOR plus 604 basis points thereafter
- Kroll Bond Rating Agency investment grade rating of BBB-
- The transaction proceeds will be used to fund growth and for general corporate purposes
About the company
Franklin Financial Network, Inc. is a financial holding company headquartered in Franklin, Tennessee. The Company’s wholly owned bank subsidiary, Franklin Synergy Bank, a Tennessee-chartered commercial bank founded in November 2007 and a member of the Federal Reserve System, provides a full range of banking and related financial services with a focus on service to small businesses, corporate entities, local governments and individuals. With consolidated total assets of $2.3 billion at March 31, 2016, the Bank currently operates through 12 branches in the demographically attractive and growing Williamson and Rutherford Counties within the Nashville metropolitan statistical area. Additional information about the Bank, which is included in the NYSE Financial 100 Index and the FTSE Russell 2000 Index, is available at the Bank's website: www.FranklinSynergyBank.com.
Source: Company Press Release and publicly available information
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