3.25% Fixed-to-Floating Rate Subordinated Notes due 2031
Note · Sierra Bancorp
Reference: 3.25% Fixed-to-Floating Rate Subordinated Notes due 2031
- Original principal
- USD 50,000,000
- Outstanding
- —
- Commitment
- —
- Availability
- —
- Maturity
- —
Last reported interest terms: 3.25% Reported 2021-09-24 Later filings may not restate these terms; this does not confirm they still apply.
Covenant terms for this agreement are not yet verified.
Documents and filing history
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Issuance
· 2021-09-24
Original principal USD 50,000,000 Exact source document
Parent 8-K filing · 2021-09-24
On September 24, 2021, Sierra Bancorp, a California corporation (the “Company”)(NASDAQ: BSRR), and parent company of Bank of the Sierra, entered into Subordinated Note Purchase Agreements (the “Note Purchase Agreement”) pursuant to which the Company issued and sold $50 million in aggregate principal amount of its 3.25% Fixed-to-Floating Rate Subordinated Notes due 2031 (the “Notes”) to certain investors. The Notes were rated BBB- by Kroll Bond Rating Agency. The Notes were offered and sold by the Company in a private placement transaction in reliance on exemptions from the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”), pursuant to Section 4(a)(2) of the Securities Act and Regulation D thereunder. The Company intends to use the net proceeds from the offering for general corporate purposes.
Issuer evidence: On September 24, 2021, Sierra Bancorp, a California corporation (the “Company”)(NASDAQ: BSRR), and parent company of Bank of the Sierra, entered into Subordinated Note Purchase Agreements (the “Note Purchase Agreement”) pursuant to which the Company issued and sold $50 million in aggregate principal amount of its 3.25% Fixed-to-Floating Rate Subordinated Notes due 2031 (the “Notes”) to certain investors.
Supporting evidence: On September 24, 2021, Sierra Bancorp, a California corporation (the “Company”)(NASDAQ: BSRR), and parent company of Bank of the Sierra, entered into Subordinated Note Purchase Agreements (the “Note Purchase Agreement”) pursuant to which the Company issued and sold $50 million in aggregate principal amount of its 3.25% Fixed-to-Floating Rate Subordinated Notes due 2031 (the “Notes”) to certain investors.
Supporting evidence: On September 24, 2021, Sierra Bancorp, a California corporation (the “Company”)(NASDAQ: BSRR), and parent company of Bank of the Sierra, entered into Subordinated Note Purchase Agreements (the “Note Purchase Agreement”) pursuant to which the Company issued and sold $50 million in aggregate principal amount of its 3.25% Fixed-to-Floating Rate Subordinated Notes due 2031 (the “Notes”) to certain investors.