By Lisa Kerner
Charlotte, N.C., May 18 – HomeStreet, Inc. is offering $65 million of 6.5% senior notes due 2026 to qualified institutional buyers.
Settlement is expected to occur on May 20.
Proceeds will be used to support growth and for general corporate purposes, according to a news release.
Kroll is expected to assign a rating of BBB- to the senior note offering.
The notes will not be registered under the Securities Act at the time of the offering; however, the notes will include registration rights.
Seattle-based HomeStreet, Inc. is a financial services company and the holding company for HomeStreet Bank.
| Issuer: | HomeStreet, Inc.
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| Issue: | Senior notes
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| Amount: | $65 million
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| Coupon: | 6.5%
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| Maturity: | 10 years
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| Announced: | May 18
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| Settlement: | May 20
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| Rating: | (expected) Kroll: BBB-
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| Distribution: | Private placement
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