By Lisa Kerner
Charlotte, N.C., June 19 – Eagle Bancorp Montana, Inc. issued $10 million of 6.75% subordinated notes due 2025 in a private placement transaction to an institutional accredited investor on Friday.
Proceeds will be used for general corporate purposes, organic growth and acquisitions, according to a news release.
FIG Partners, LLC was the placement agent.
Interest on the notes is payable quarterly.
The notes are callable at par after five years.
The notes are expected to qualify as tier 2 capital for regulatory capital purposes.
Eagle Bancorp is a Bethesda, Md.-based bank holding company.
| Issuer: | Eagle Bancorp Montana, Inc.
|
| Issue: | Subordinated notes
|
| Amount: | $10 million
|
| Coupon: | 6.75%, payable quarterly
|
| Maturity: | June 19, 2025
|
| Call option: | At par after five years
|
| Agent: | FIG Partners, LLC
|
| Distribution: | Private placement
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
