Published on 10/22/2020 in the Prospect News Private Placement Daily.
New Issue: ServisFirst places $34.75 million of 4% subordinated notes due 2030
By Devika Patel
Knoxville, Tenn., Oct. 22 – ServisFirst Bancshares, Inc. sold $34.75 million of 4% 10-year subordinated notes on Oct. 21, according to an 8-K filed with the Securities and Exchange Commission.
Proceeds will be used to redeem in full the company’s 5% subordinated notes issued on July 15, 2015 and for general corporate purposes.
ServisFirst Bancshares is the Birmingham, Ala.-based holding company for ServisFirst Bank.
| Issuer: | ServisFirst Bancshares, Inc.
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| Issue: | Subordinated notes
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| Amount: | $34.75 million
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| Maturity: | Oct. 21, 2030
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| Coupon: | 4%
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| Call option: | Par call on or after Oct. 21, 2025
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| Settlement date: | Oct. 21
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| Distribution: | Private placement
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