Loan & DebtJul 28, 2026, 06:07 AM
Atlantic Union Bankshares Issues $250M Subordinated Notes
AI Summary
Atlantic Union Bankshares Corporation entered into an underwriting agreement to offer and sell $250 million aggregate principal amount of 6.25% Fixed-to-Floating Rate Subordinated Notes due 2036. The offering is expected to close around July 30, 2026. The company intends to use the net proceeds to repay $168 million of its outstanding 4.25% Fixed-to-Floating Rate Subordinated Notes due 2029 and for general corporate purposes, including providing capital to Atlantic Union Bank.
Key Highlights
- Atlantic Union Bankshares entered an underwriting agreement for $250 million in Notes.
- The Notes are 6.25% Fixed-to-Floating Rate Subordinated Notes due 2036.
- The offering is expected to close on or about July 30, 2026.
- Net proceeds will repay $168 million of 4.25% Subordinated Notes due 2029.
- Remaining proceeds are for general corporate purposes and capital for Atlantic Union Bank.
- Keefe, Bruyette & Woods, Inc. and Piper Sandler & Co. are representatives for underwriters.
Price Impact
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