Eagle Bancorp Montana sells $10 million 5.75% notes due 2022 via agent Brean Capital

By Devika Patel

Knoxville, Tenn., Feb. 13 – The private placement market started the week with a new deal from Helena, Mont.-based bank holding company Eagle Bancorp Montana, Inc., which settled a private placement of $10 million of five-year 5.75% senior unsecured notes through agent Brean Capital, LLC on Monday.

The notes are due on Feb. 15, 2022 and received a rating of A- from Egan-Jones Rating Co.

Interest will be payable semiannually. The notes may not be called.

Proceeds are to be used for general corporate purposes.

“This growth capital gives us an opportunity to continue to build out our business plan of strong organic growth and meet the growing demand from our customers and communities,” president and chief executive officer Peter J. Johnson said in a press release.

“Senior unsecured notes are a cost effective way to provide funding for our subsidiary bank. We are also very pleased to have obtained a strong rating from Egan-Jones,” he said.

© 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.