Loan & DebtMay 14, 2026, 04:06 PM
Valley National Bancorp Redeems $300M Subordinated Notes
AI Summary
Valley National Bancorp announced the full redemption of its 3.00% Fixed-to-Floating Rate Subordinated Notes due 2031, totaling $300,000,000. The redemption date is set for June 15, 2026, with the Notes being redeemed at 100% of their principal amount plus accrued interest. Following the redemption, no Notes will remain outstanding, and interest will cease to accrue.
Key Highlights
- Valley National Bancorp announced the full redemption of its 3.00% Fixed-to-Floating Rate Subordinated Notes due 2031.
- The aggregate principal amount of the Notes being redeemed is $300,000,000.
- The redemption date for the Notes is June 15, 2026.
- The redemption price is 100% of the principal amount plus accrued and unpaid interest to, but excluding, the Redemption Date.
- Interest on the Notes will cease to accrue on and after the Redemption Date.
Price Impact
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