FIRST MERCHANTS CORP (FRME) Form 8-K — Sep 25, 2026
$FRMEForm 8-KItems 1.01, 2.03, 9.01Filed Sep 25, 2026, 2:10 PM ET0001193125-26-402604Original filing
First Merchants Corporation closed a $100 million offering of 6.750% Fixed-to-Floating Rate Subordinated Notes due 2036, entering into a base indenture and first supplemental indenture with U.S. Bank Trust Company as trustee on September 25, 2026. The notes pay 6.750% fixed semi-annually through October 1, 2031, then float at a benchmark (expected Three-Month Term SOFR) plus 202 basis points, maturing October 1, 2036. The company may redeem the notes at par beginning October 1, 2031.
Key figures
- Debt Amount
- 100000000
- Interest Rate
- 6.750% fixed until October 1, 2031; thereafter floating (expected Three-Month Term SOFR) plus 202 bps
- Maturity Date
- 2036-10-01
- First call date
- October 1, 2031
- Redemption price
- 100% of principal plus accrued interest
- Interest payment frequency
- Semi-annual (fixed period), quarterly (floating period)
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