Valley National to sell 10-year fixed-to-floating subordinated notes

Chicago, Sept. 15 – Valley National Bancorp is in the market with fixed-to-floating rate subordinated notes with a 10-year tenor (BBB-/Kroll: BBB/DBRS: BBBH), according to a 424B5 filing with the Securities and Exchange Commission.

The floating-rate period will start in 2027, with quarterly resets based on SOFR plus a margin.

The notes can be redeemed at par on any interest payment date starting in 2027.

Piper Sandler & Co. and Morgan Stanley & Co. LLC are bookrunners. R. Seelaus & Co., LLC is the co-manager.

U.S. Bank Trust Co., NA is the trustee.

Day Pitney LLP is working for Valley National as counsel. Covington & Burling LLP is advising the underwriters.

Proceeds will be used to finance or refinance new or existing social and/or green eligible assets.

Valley National is a Wayne, N.J.-based bank holding company. Its principal subsidiary is Valley National Bank.

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