MB Financial Bank, N.A., a Wholly Owned Subsidiary of MB Financial, Inc., Announces Pricing of $175 Million of 4.00% Fixed-to...
14 Novembro 2017 - 10:53PM
MB Financial Bank, N.A. (“MB Bank”), a wholly owned subsidiary of
MB Financial, Inc. (the “Company” or “MB Financial”) (Nasdaq:MBFI),
today announced the pricing of $175 million of MB Bank’s 4.00%
Fixed-to-Floating Rate Subordinated Notes due 2027 (the
“Subordinated Notes”). The Subordinated Notes will initially bear
interest at a fixed rate of 4.00% per annum, payable semi-annually
in arrears, commencing on June 1, 2018, to, but excluding, December
1, 2022, and, thereafter, quarterly in arrears, at an annual
floating rate equal to the then current three-month LIBOR plus
187.3 basis points. The Subordinated Notes will mature on December
1, 2027. The Subordinated Notes will be issued at a price of
100% of the principal amount thereof.
The Subordinated Notes are redeemable at par at
MB Bank’s option, in whole or in part, subject to obtaining any
required regulatory approval, on December 1, 2022 and on any
scheduled interest payment date thereafter. The Subordinated
Notes also are redeemable by MB Bank at par, in whole but not in
part, at any time prior to that date, subject to obtaining any
required regulatory approval, in the case of certain special events
that could prevent MB Bank from deducting interest paid on the
Subordinated Notes for U.S. Federal income tax purposes, that would
result in the Subordinated Notes no longer constituting tier 2
capital for regulatory capital purposes or that would require MB
Bank to register as an investment company under the Investment
Company Act of 1940, as amended.
MB Bank intends to use the net proceeds of the
offering for general corporate purposes.
Sandler O'Neill & Partners, L.P. is serving
as the sole book-runner; Goldman Sachs & Co. LLC, U.S. Bancorp,
and Brean Capital, LLC are serving as co-managers for this
offering.
The Subordinated Notes have not been registered
under the Securities Act of 1933, as amended (the “Securities
Act”), and are being offered and sold pursuant to regulations of
the Office of the Comptroller of the Currency and in reliance on an
exemption from the registration requirements of the Securities Act
provided by Section 3(a)(2) of the Securities Act. The
offering is being made only by means of an offering circular.
Copies of the preliminary offering circular and (when available)
final offering circular may be obtained by contacting Sandler
O'Neill & Partners, L.P., Attn: Syndicate, 1251 Avenue of
the Americas, 6th Floor, New York, NY 10020, Tel: (866)
805-4128 or Email: syndicate@sandleroneill.com
This press release is for informational purposes
only and shall not constitute an offer to sell or a solicitation of
an offer to buy the Subordinated Notes, nor shall there be any sale
of the Subordinated Notes in any state or other jurisdiction in
which such an offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of any
such state or other jurisdiction in the absence of an applicable
exemption from such registration or qualification requirements. The
Subordinated Notes are not deposits and are not insured by the
Federal Deposit Insurance Corporation (the FDIC) or any other
governmental agency.
MB Financial is the Chicago-based holding
company for MB Bank which has approximately $20 billion in assets
and a more than one hundred year history of building deep and
lasting relationships with middle-market companies and
individuals. MB Financial offers a full range of powerful
financial solutions and the expertise and experience of bankers who
are focused on their clients’ success.
Safe Harbor Statement: Statements in this press
release that are not historical facts are "forward-looking
statements" within the meaning of the Private Securities Litigation
Reform Act of 1995. By their nature, such statements are subject to
numerous factors that could cause actual results to differ
materially from those anticipated in the statements, as discussed
in MB Financial’s filings with the Securities and Exchange
Commission. You should not place undue reliance on any
forward-looking statements and the Company and MB Bank undertake no
obligation to update any such statements to reflect circumstances
or events that occur after the date on which the forward-looking
statement is made.
For Information at MB Financial, Inc.
contact:Berry Allen - Investor
RelationsE-Mail:
beallen@mbfinancial.com
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