By Devika Patel
Knoxville, Tenn., Aug. 11 – Bancorp Inc. gave further details, including the price and call details, about a $100 million sale of 4.75% senior notes (Kroll: BBB) due 2025 that priced at par on Monday, according to an FWP filed with the Securities and Exchange Commission.
Piper Sandler & Co. and Raymond James & Associates are the joint bookrunners.
Proceeds will be used for general corporate purposes.
Bancorp is the Wilmington, Del.-based holding company of Bancorp Bank.
| Issuer: | Bancorp Inc.
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| Issue: | Senior notes
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| Amount: | $100 million
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| Maturity: | Aug. 15, 2025
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| Bookrunners: | Piper Sandler & Co. and Raymond James & Associates
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| Co-manager: | Performance Trust Capital Partners
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| Coupon: | 4.75%
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| Price: | Par
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| Yield: | 4.75%
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| Call option: | Callable at par 30 days prior to maturity
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| Pricing date: | Aug. 10
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| Settlement date: | Aug. 13
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| Rating: | Kroll: BBB
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| Distribution: | SEC registered
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