Veritex Holdings wraps $75 million private placement of 4.75% 10-year fixed-to-floaters

By Devika Patel

Knoxville, Tenn., Nov. 8 – The private placement market saw one new deal settle on Friday.

Dallas-based Veritex Holdings, Inc., the holding company for Veritex Community Bank, settled a $75 million private placement of 10-year 4.75% fixed-to-floating rate subordinated notes.

Sandler O’Neill + Partners, LP was the agent, and Keefe, Bruyette & Woods, Inc. was co-placement agent.

Interest accrues at 4.75% per year until Nov. 15, 2024. From then onwards, the notes will bear interest at a floating rate equal to SOFR plus 347 basis points.

Proceeds will be used for general corporate purposes, including subordinated debt repayment and potential share repurchases.

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