By Wendy Van Sickle
Columbus, Ohio, June 13 – Katahdin Bankshares Corp. privately placed $14.5 million of 5.375% senior notes due 2026, according to a company news release.
Sandler O'Neill + Partners, LP was the placement agent.
The notes are non-callable for life.
Proceeds will be used to redeem about $10 million of series D preferred stock of the holding company and for general corporate purposes.
Katahdin Bankshares is the parent company of Katahdin Trust Co., a banking services company based in Houlton, Maine.
| Issuer: | Katahdin Bankshares Corp.
|
| Issue: | Senior notes
|
| Amount: | $14.5 million
|
| Coupon: | 5.375%
|
| Maturity date: | June 15, 2026
|
| Call option: | None
|
| Placement agent: | Sandler O'Neill + Partners, LP
|
| Distribution: | Private placement
|
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