Business News • MarketWire • Sterling National Bank Announces Closing of Subordinated Notes Offering; Offering of $65 Million |
Sterling National Bank Announces Closing of Subordinated Notes Offering; Offering of $65 Million |
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Sterling National Bank Announces Closing of Subordinated Notes Offering; Offering of $65 Million
MONTEBELLO, NY--(Marketwired - September 02, 2016) - Sterling National Bank (the "Bank"), a wholly owned subsidiary of Sterling Bancorp (NYSE: STL), today announced the closing of the previously announced private offering of $65 million aggregate principal amount of its 5.25% fixed-to-floating rate subordinated notes due 2026 (the "Notes"). The offering is a reopening of the Bank's previous offering of $110 million aggregate principal amount of 5.25% fixed-to-floating rate subordinated notes due 2026, which closed on March 29, 2016 (the "Existing Notes"). The Notes will have terms that are identical to the terms of the Existing Notes (other than the date of settlement and the offering price), will have the same CUSIP and ISIN numbers as the Existing Notes, and will trade interchangeably with the Existing Notes. The original issue date of the Notes is March 29, 2016.
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