Butterfield prices $100m debt offering
Butterfield Bank has priced a $100 million registered debt offering.
The bank said tonight that the 5.25 per cent fixed to floating subordinated notes, due 2030, was expected to close on or about June 11, 2020, subject to customary closing conditions.
Butterfield intends to use the net proceeds from the offering for “general corporate purposes, which may include the repayment of a portion or all of its outstanding indebtedness”.
Keefe, Bruyette&Woods, A Stifel Company, is acting as the book-running manager, with Barclays Capital acting as co-manager.
The offering is being made only by means of a prospectus and related prospectus supplement. Copies of the preliminary prospectus supplement and the accompanying prospectus may be obtained from Keefe, Bruyette&Woods, A Stifel Company, at 1-800-966-1559. Electronic copies of these documents are also available on the website of the US Securities and Exchange Commission at www.sec.gov.
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