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Co-Manager

Veritex Holdings, Inc.

$125 Million 10/05/2020 Depository Complete
Public Companies
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Transaction Details

  • On October 5, 2020, Veritex Holdings, Inc. (Nasdaq: VBTX) (the “Company”), the parent holding company for Veritex Community Bank, closed its $125 million public offering of Fixed-to-Floating Rate Subordinated Notes (the “Notes”) due 2030
  • The Notes bear a fixed rate of 4.125% for the first 5 years and a floating rate equal to a benchmark rate, expected to be Three-Month Term SOFR, plus 399.5 basis points thereafter, until the Notes mature on October 15, 2030
  • The Company will have the option to redeem the Notes on or after October 15, 2025
  • The Company intends to use the proceeds of the offering for general corporate purposes, including the potential repayment of outstanding indebtedness, and supporting capital levels at Veritex Community Bank
  • The Notes are expected to be rated BBB- by Kroll Bond Rating Agency

About the company

Headquartered in Dallas, Texas, Veritex is a bank holding company that conducts banking activities through its wholly-owned subsidiary, Veritex Community Bank, with locations throughout the Dallas-Fort Worth metroplex and in the Houston metropolitan area. Veritex Community Bank is a Texas state chartered bank regulated by the Texas Department of Banking and the Board of Governors of the Federal Reserve System.

Sources: Company Filings.
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    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/1501570/000104746920005070/a2242460z424b5.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of the purchase price can be received until the registration statement has become effective, and any such offer may be withdrawn or revoked, without obligation or commitment of any kind, at any time prior to the notice of its acceptance given after the effective date.

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