Green Bancorp places $35 million fixed-to-floaters; Allianz expands

By Devika Patel

Knoxville, Tenn., Dec. 8 – On Thursday, Houston-based bank holding company Green Bancorp, Inc. settled a $35 million private placement of 8.5% 10-year fixed-to-floating rate subordinated notes due Nov. 16, 2026. Proceeds will be used for general corporate purposes.

Interest accrues at 8.5% per year until Dec. 15, 2021. From Dec. 15, 2021 onwards, the notes will bear interest at a floating rate equal to the Libor plus 668.5 basis points.

The notes are redeemable in whole but not in part on or after Dec. 15, 2021 at par.

The holding company for Green Bank, NA is based in Houston.

Also, Allianz Global Investors, part of Munich-based Allianz SE, announced in a press release that two investment teams from Allianz Investment Management will join Allianz Global Investors’ global private debt platform.

These new teams, including recently acquired private credit manager Sound Harbor Partners, will form the core of a broad private debt platform within Allianz Global Investors’ Alternatives segment – one of the four segments of the company’s global investment platform, alongside Equities, Fixed Income and Multi-Asset.

With the addition of the assets from the Sound Harbor Partners acquisition and a further €11.5 billion in assets managed by the two new private debt teams joining from Allianz, Allianz Global Investors will manage over €21 billion in private debt from 2017.

© 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.