Veritex Holdings, Inc. | Stephens

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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:

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