Spire to place $165 million; FVCBankcorp sells $25 million 10-year notes; SMI plans issue

By Lisa Kerner

Charlotte, N.C., June 20 – Spire Inc. announced it will privately place $165 million of senior notes with institutional investors.

The issue will include $35 million of five-year notes and $130 million of 10-year notes, according to a news release.

Depending on the date of issuance and sale, the five-year notes will bear interest between 2.49% and 2.61% per annum, and the 10-year notes will bear interest between 3.11% and 3.19%.

The St. Louis-based IT consulting company will use the proceeds to fund a portion of the consideration for its pending acquisition of Mobile Gas and Willmut Gas.

FVCBankcorp, Inc. privately placed $25 million of fixed-to-floating-rate subordinated notes due 2026.

The notes bear interest at a fixed rate of 6% for the first five years and thereafter will bear a floating interest rate equal Libor plus 487 basis points.

Sandler O'Neill + Partners, LP was the placement agent.

FVCBankcorp, based in Fairfax, Va., is the holding company for First Virginia Community Bank.

SMI Holdings Group Ltd. said it will issue HK$400 million of 8.5% two-year notes to a subsidiary of CCB International (Holdings) Ltd. and $43.6 million of 8.5% two-year notes to a subsidiary of Huarong International Financial Holdings Ltd.

The company entered into subscription agreements with the two investors with proceeds slated for general corporate purposes, working capital and acquisition of theaters.

SMI is a Hong Kong-based investment holding company.

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