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Bank of the Ozarks plans 10-year fixed-to-floating subordinated notes
By Lisa Kerner
Charlotte, N.C., June 13 – Bank of the Ozarks, Inc. expects to price an offer of 10-year fixed-to-floating rate subordinated notes (Kroll: BBB/Egan-Jones: A-) during the week, according to an FWP filed with the Securities and Exchange Commission.
The notes can be redeemed after five years.
Proceeds will be contributed to the subsidiary bank to fund further growth and for general corporate purposes.
Sandler O’Neill + Partners, LP is the lead manager.
Bank of the Ozarks is a Little Rock, Ark.-based bank holding company.
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