VersaBank to offer $50 million fixed-to-floating subordinated notes due 2031

By Rebecca Melvin

Concord, N.H., April 21 – VersaBank plans to offer $50 million of fixed-to-floating rate subordinated notes due 2031 under Rule 144A and Regulation S, according to a news release.

The notes will be offered and sold on a private placement basis in Canada.

The proceeds will be used for general corporate purposes.

The exact timing and terms of the offering will depend on market conditions and receipt of necessary approvals including regulatory approvals.

VersaBank is a Canadian schedule one chartered bank based in Ontario.

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