Chicago, March 3 – Oak View Bankshares, Inc. closed a $14 million subordinated notes offering, according to a press release.
The 4% fixed-to-floating-rate notes are due in 2032.
Performance Trust Capital Partners, LLC was the placement agent.
Proceeds will be used for general corporate purposes, including strengthening bank capital ratios and potential future strategic opportunities.
The issuer is a bank holding company based in Warrenton, Va.
| Issuer: | Oak View Bankshares, Inc.
|
| Amount: | $14 million
|
| Issue: | Fixed-to-floating-rate subordinated notes
|
| Maturity: | 2032
|
| Placement agent: | Performance Trust Capital Partners, LLC
|
| Counsel to issuer: | Williams Mullen
|
| Counsel to bookrunners: | Troutman Pepper Hamilton Sanders LLP
|
| Coupon: | 4% starting rate
|
| Announcement date: | March 3
|
| 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.
