New Issue: BankUnited prices $400 million 4.875% 10-year notes to yield 5%

By Cristal Cody

Tupelo, Miss., Nov. 13 – BankUnited, Inc. sold $400 million of 4.875% 10-year senior notes at 99.026 to yield 5% on Thursday, according to an FWP filing with the Securities and Exchange Commission.

The notes (Ba1//BBB) priced with a spread of 266.7 basis points over Treasuries.

J.P. Morgan Securities LLC and BofA Merrill Lynch were the bookrunners.

Proceeds will be used for general corporate purposes.

BankUnited is a Miami Lakes, Fla.-based bank holding company.

Issuer:	BankUnited, Inc.
Amount:	$400 million
Maturity:	Nov. 17, 2025
Securities:	Senior notes
Bookrunners:	J.P. Morgan Securities LLC, BofA Merrill Lynch
Co-manager:	Credit Suisse Securities (USA) LLC
Coupon:	4.875%
Price:	99.026
Yield:	5%
Spread:	266.7 bps over Treasuries
Make-whole call:	Prior to Aug. 17, 2025 at the greater of par of the principal amount of notes being redeemed or discounted present value at Treasuries plus 40 bps, plus accrued but unpaid interest; on or after Aug. 17, 2025 at par plus accrued but unpaid interest
Trade date:	Nov. 12
Settlement date:	Nov. 17
Ratings:	Moody’s: Ba1
	Fitch: BBB
Distribution:	SEC registered

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