United Community Bank enters into $100 million credit facility

By Jennifer Chiou

New York, Aug. 29 - United Community Bank entered into a subordinated term loan agreement for a $100 million credit facility, according to an 8-K filing with the Securities and Exchange Commission.

SunTrust Robinson Humphrey, Inc. arranged the credit agreement, which expires on Aug. 29, 2015.

United Community Bank has borrowed $30 million under the agreement.

Drawn amounts will bear interest at Libor plus 400 basis points.

The bank may prepay any borrowings, in whole or in part, without premium or penalty.

The Blairsville, Ga.-based bank is a wholly owned subsidiary of United Community Banks, Inc.

© 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.