United Financial to sell $75 million 10-year subordinated notes

By Stephanie N. Rotondo

Phoenix, Sept. 17 – United Financial Bancorp Inc. launched a $75 million offering of subordinated notes due Oct. 1, 2024, the company said in a press release on Wednesday.

Sandler O’Neill + Partners LP is the managing the deal.

The notes are non-callable for life, unless a tax event or a regulatory capital treatment event occurs. The company can also redeem the debt if it is required to register as an investment company.

Proceeds will be used for general corporate purposes.

United Financial is the Glastonbury, Conn.-based holding company for United Bank.

© 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.