Amerant Bancorp Inc. Announces Closing of Senior Notes Due 2031
Amerant Bancorp announced the closing of its previously announced registered offering of $50 million aggregate principal amount of 7.00% Senior Notes due 2031, which are unsecured and unsubordinated, with interest payable semi-annually beginning March 17, 2027. Proceeds are earmarked for general corporate purposes, including working capital, capital to support organic growth at Amerant Bank, repaying outstanding indebtedness, and repurchasing Class A shares under the company's existing stock repurchase program.
Key figures
- Deal Value Usd
- 50000000
- Coupon
- 7.00%
- Seniority
- unsecured and unsubordinated
- Maturity date
- September 17, 2031
- Use of proceeds
- general corporate purposes: working capital, capital for Amerant Bank organic growth, debt repayment, share repurchases under existing buyback program
- Interest payment
- semi-annually on March 17 and September 17, commencing March 17, 2027
AI analysis
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