LinkBancorp closes $20 million private placement of notes due 2030

By Taylor Fox

New York, Sept. 30 – LinkBancorp, Inc. closed a $20 million private placement of fixed-to-floating-rate subordinated notes due Oct. 1, 2030, according to a news release.

The notes will bear interest at a fixed rate of 5% until Oct. 1, 2025.

From Oct. 1, 2025 to the maturity date or early redemption date, the interest rate will reset semiannually to an annual floating rate equal to the then-current three-month term SOFR plus a spread of 475 basis points, but no less than 5%.

The notes are redeemable after Oct. 1, 2025.

The notes have been structured to qualify as tier 2 capital for regulatory capital purposes.

LinkBancorp intends to use the proceeds to support continued growth opportunities.

LinkBancorp is a Camp Hill, Pa., holding company and parent company of LinkBank.

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