By Devika Patel
Knoxville, Tenn., Nov. 9 – ServisFirst Bancshares, Inc. settled a $30 million private placement of 4.5% 10-year subordinated notes on Nov. 8, according to an 8-K filing with the Securities and Exchange Commission.
The company may prepay the note at par after Nov. 8, 2022.
Proceeds will be used to redeem in full the company’s 5.5% subordinated notes issued on Nov. 9, 2012 and for general corporate purposes.
ServisFirst Bancshares is the Birmingham, Ala.-based holding company for ServisFirst Bank.
| Issuer: | ServisFirst Bancshares, Inc.
|
| Issue: | Subordinated note
|
| Amount: | $30 million
|
| Maturity: | Nov. 8, 2027
|
| Coupon: | 4.5%
|
| Call: | At par after Nov. 8, 2022
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| Settlement date: | Nov. 8
|
| Distribution: | Private placement
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