By Devika Patel
Knoxville, Tenn., Sept. 24 – First Savings Financial Group, Inc. settled a $20 million private placement of fixed-to-floating subordinated notes due Sept. 30, 2028 on Sept. 20, according to an 8-K filed with the Securities and Exchange Commission. Hovde Group, LLC was the agent.
Interest accrues at 5.95% per year to but excluding Sept. 30, 2023. From then onwards, the notes will bear interest at a floating rate equal to Libor plus 310 basis points.
Proceeds will be used for general corporate purposes.
The bank holding company for First Savings Bank is based in Clarksville, Ind.
| Issuer: | First Savings Financial Group, Inc.
|
| Issue: | Fixed-to-floating subordinated notes
|
| Amount: | $20 million
|
| Maturity: | Sept. 30, 2028
|
| Coupon: | 5.95% to but excluding Sept. 30, 2023, then at Libor plus 310 bps
|
| Call: | After five years at par
|
| Agent: | Hovde Group, LLC
|
| Settlement date: | Sept. 20
|
| Distribution: | Private placement
|
|
|
© 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.
