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TowneBank plans sale of 10-year fixed-to-floating subordinated notes
By Devika Patel
Knoxville, Tenn., July 11 – TowneBank said it intends to price an offering of fixed-to-floating rate subordinated notes due 2027.
Sandler O’Neill + Partners, LP is the bookrunner.
The company plans to use the proceeds from the public debt offering for general corporate purposes.
TowneBank is a Portsmouth, Va.-based provider of retail and commercial banking products and services through its subsidiaries.
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