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Investar calls 6% fixed-to-floating subordinated notes due 2027
By Marisa Wong
Los Angeles, June 8 – Investar Holding Corp. will redeem its outstanding 6% fixed-to-floating rate subordinated notes due 2027 on June 30, according to an 8-K filing with the Securities and Exchange Commission.
The notes will be redeemed in full at par plus accrued interest up to but excluding the redemption date.
The aggregate redemption price, excluding accrued interest, will total roughly $18.6 million.
The redemption will be funded with proceeds from the company’s issuance of 5.125% fixed-to-floating rate subordinated notes due 2032 completed in April.
Wilmington Trust, NA is trustee.
The issuer is the Baton Rouge, La.-based parent holding company of Investar Bank.
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