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Co-Manager

RBB Bancorp

$120 Million 03/26/2021 Depository Complete
Public Companies
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Transaction Details

  • On March 26, 2021, RBB Bancorp (NASDAQ: RBB) (“RBB”), the financial holding company for Royal Business Bank (the “Bank") and RBB Asset Management Company, announced that it has completed its $120 million public offering of Fixed-to-Floating Rate Subordinated Notes due 2031 (the “Notes”)
  • The Notes bear a fixed rate of 4.00% per year for the first 5 years and then reset at a floating rate equal to a benchmark rate, which is expected to be Three-Month Term SOFR, plus 329 basis points
  • The Notes are rated BBB by Kroll Bond Rating Agency
  • The Company intends to use the proceeds to redeem on March 31, 2021 its $50.0 million in aggregate principal amount 6.5% Subordinated Notes due 2026, and for other general corporate purposes

About the company

RBB Bancorp is a community-based financial holding company headquartered in Los Angeles, California. As of December 31, 2020, RBB had total assets of $3.4 billion. Its wholly owned subsidiary, the Bank, is a full-service commercial bank, which provides business banking services to the Chinese-American communities in Los Angeles County, Orange County, and Ventura County in California; in Las Vegas, Nevada; in Brooklyn, Queens, and Manhattan in New York; Edison, New Jersey, and two branches in the Chicago neighborhoods of Chinatown and Bridgeport.

Source: Company Filings.
  1. This material has been prepared solely for informative purposes as of its stated date and is not a solicitation, or an offer, to buy or sell any security. It does not purport to be a complete description of the securities, markets or developments referred to in the material. Information included in the material was obtained from sources which we consider reliable, but we have not independently verified such information and do not guarantee that it is accurate or complete. No subsequent publication or distribution of this material shall mean or imply that any such information or opinion remains current at any time after the stated date of the material. We do not undertake to advise you of any changes in any such information or opinion. Additional information is available upon request.

    The offering of these securities is being made only by means of a prospectus, copies of which may be obtained from Stephens Inc.’s Fixed Income Syndicate Desk, at Stephens Inc., 111 Center Street, Little Rock, AR 72201, ATTN: Fixed Income Syndicate Desk, or from the Securities and Exchange Commission’s website at www.sec.gov at the following link:

    https://www.sec.gov/Archives/edgar/data/1499422/000110465921041027/tm2110518-1_424b5.htm. A registration statement relating to these securities has been filed with the Securities and Exchange Commission. No offer to buy the securities can be accepted and no part of the purchase price can be received until the registration statement has become effective, and any such offer may be withdrawn or revoked, without obligation or commitment of any kind, at any time prior to the notice of its acceptance given after the effective date.

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