Loan & DebtJul 27, 2026, 08:56 AM
Atlantic Union Bankshares to Offer $200M Subordinated Notes
AI Summary
Atlantic Union Bankshares Corporation announced its proposal to offer and sell a new series of $200 million Fixed-to-Floating Rate Subordinated Notes due 2036. The company filed a preliminary prospectus supplement for this offering on July 27, 2026. The proceeds from the offering are intended to redeem $168.0 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 to support its growth.
Key Highlights
- Atlantic Union Bankshares proposes to offer $200 million in Fixed-to-Floating Rate Subordinated Notes due 2036.
- The notes will have a 10-year term with a 5-year call option.
- Proceeds will be used to redeem $168.0 million of existing 4.25% Subordinated Notes due 2029.
- Remaining proceeds are for general corporate purposes, including providing capital to Atlantic Union Bank.
- The new notes are expected to be rated BBB (Stable) by Kroll Bond Rating Agency.
- A preliminary prospectus supplement was filed on July 27, 2026, for the offering.
Price Impact
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