HBNC · Horizon Bancorp Inc · Debt

On August 29, 2025, Horizon Bancorp, Inc. (the “Company”) entered into a Subordinated Note Purchase Agreement (the “Note Purchase Agreement”) pursuant to which the Company issued and sold $100.0 million in aggregate principal amount of its 7.00% Fixed-to-Floating Rate Subordinated Notes due September 15, 2035 (the “Notes”). The Notes were issued by the Company at a price equal to 100% of their face amount. The Company intends to use the net proceeds from the offering for general corporate purposes, including in support of the potential repositioning of its balance sheet, and to redeem approximately $56.5 million in aggregate principal amount of 5.625% Fixed-to-Floating Rate Subordinated Notes due 2030. The Note Purchase Agreement contains certain customary representations, warranties and covenants made by the Company, on the one hand, and the several purchasers party thereto (the “Purchasers”), severally and not jointly, on the other hand.

Issuer evidence: On August 29, 2025, Horizon Bancorp, Inc. (the “Company”) entered into a Subordinated Note Purchase Agreement (the “Note Purchase Agreement”) pursuant to which the Company issued and sold $100.0 million in aggregate principal amount of its 7.00% Fixed-to-Floating Rate Subordinated Notes due September 15, 2035 (the “Notes”). The Notes were issued by the Company at a price equal to 100% of their face amount. The Company intends to use the net proceeds from the offering for general corporate purposes, including in support of the potential repositioning of its balance sheet, and to redeem approximately $56.5 million in aggregate principal amount of 5.625% Fixed-to-Floating Rate Subordinated Notes due 2030. The Note Purchase Agreement contains certain customary representations, warranties and covenants made by the Company, on the one hand, and the several purchasers party thereto (the “Purchasers”), severally and not jointly, on the other hand.

Supporting evidence: The Notes have a stated maturity of September 15, 2035 (“Maturity Date”). From and including the original issue date of the Notes (“Issue Date”) to but excluding September 15, 2030 or the date of earlier redemption, the Company will pay interest on the Notes semi-annually in arrears on September 15 and March 15 of each year at a fixed interest rate of 7.00% per annum, computed on the basis of a 360-day year consisting of twelve 30-day months, beginning on March 15, 2026. From and including September 15, 2030, to, but excluding, the Maturity Date or the date of earlier redemption (the “Floating Rate Period”) the Company will pay interest on the Notes at a floating interest rate. The interest rate during any Floating Rate Period shall be equal to the benchmark rate, which is expected to be Three-Month Term SOFR (as defined in the Notes), reset quarterly, plus 360 basis points, computed on the basis of a 360-day year and the actual number of days elapsed. During the Floating Rate Period, the Company will pay interest on the Notes quarterly in arrears on March 15, June 15, September 15, and December 15 of each year, beginning on December 15, 2030. Notwithstanding the foregoing, if the benchmark rate is less than zero, the benchmark rate shall be deemed to be zero.

Supporting evidence: On August 29, 2025, Horizon Bancorp, Inc. (the “Company”) entered into a Subordinated Note Purchase Agreement (the “Note Purchase Agreement”) pursuant to which the Company issued and sold $100.0 million in aggregate principal amount of its 7.00% Fixed-to-Floating Rate Subordinated Notes due September 15, 2035 (the “Notes”). The Notes were issued by the Company at a price equal to 100% of their face amount. The Company intends to use the net proceeds from the offering for general corporate purposes, including in support of the potential repositioning of its balance sheet, and to redeem approximately $56.5 million in aggregate principal amount of 5.625% Fixed-to-Floating Rate Subordinated Notes due 2030. The Note Purchase Agreement contains certain customary representations, warranties and covenants made by the Company, on the one hand, and the several purchasers party thereto (the “Purchasers”), severally and not jointly, on the other hand.

Supporting evidence: On August 29, 2025, Horizon Bancorp, Inc. (the “Company”) entered into a Subordinated Note Purchase Agreement (the “Note Purchase Agreement”) pursuant to which the Company issued and sold $100.0 million in aggregate principal amount of its 7.00% Fixed-to-Floating Rate Subordinated Notes due September 15, 2035 (the “Notes”). The Notes were issued by the Company at a price equal to 100% of their face amount. The Company intends to use the net proceeds from the offering for general corporate purposes, including in support of the potential repositioning of its balance sheet, and to redeem approximately $56.5 million in aggregate principal amount of 5.625% Fixed-to-Floating Rate Subordinated Notes due 2030. The Note Purchase Agreement contains certain customary representations, warranties and covenants made by the Company, on the one hand, and the several purchasers party thereto (the “Purchasers”), severally and not jointly, on the other hand.