By Lisa Kerner
Charlotte, N.C., Oct. 29 – New Hampshire Thrift Bancshares, Inc. issued $17 million of fixed-rate 6¾% subordinated notes to accredited investors.
The notes may be redeemed at par on or after Nov. 1, 2019 and are due on Nov. 1, 2024, according to a company news release.
Griffin Financial Group LLC acted as placement agent.
Proceeds will be used to redeem a portion of the company’s preferred securities on or about Nov. 19, president and chief executive officer Stephen Theroux said in the news release. The preferreds were issued under the Treasury's Small Business Lending Fund Program.
New Hampshire Thrift, located in Newport, N.H., is the holding company of Lake Sunapee Bank, fsb.
| Issuer: | New Hampshire Thrift Bancshares, Inc.
|
| Issue: | Subordinated notes
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| Amount: | $17 million
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| Coupon: | 6¾%
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| Maturity: | Nov. 1, 2024
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| Call option: | At par on or after Nov. 1, 2019
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| Agent: | Griffin Financial Group LLC
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| Distribution: | Private placement
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