Bank OZK Announces Pricing of $350 Million of 2.750% Fixed-to-Floating Rate Subordinated Notes due 2031
The Bank expects to use the net proceeds from the offering of the Notes for general corporate purposes, which may include, among other things, financing organic growth or strategic acquisitions, repurchases of shares of the Bank’s common stock, supporting the Bank’s regulatory capital levels and ongoing working capital needs.
The Notes will be unsecured and subordinated obligations of the Bank and will rank junior in right of payment to all of the Bank’s existing and future senior indebtedness (including deposits and claims of general creditors). The Notes will not be guaranteed by any of the Bank’s subsidiaries or affiliates.
The Notes will be issued in reliance upon an exemption from registration under Section 3(a)(2) of the Securities Act of 1933, as amended (the “Securities Act”), because the Notes are being offered by a bank. The Notes will not be savings accounts or other deposits and will be neither insured nor guaranteed by the
This press release does not constitute an offer to sell or a solicitation of an offer to buy the Notes in the offering, nor shall there be any sale of the Notes in the offering in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful under the securities laws of any such jurisdiction.
CAUTION ABOUT FORWARD-LOOKING STATEMENTS
This release and certain other communications by the Bank contain statements that constitute “forward-looking statements” within the meaning of, and subject to the protections of, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements are based on currently available information and are subject to various risks and uncertainties that could cause actual results to differ materially from the Bank’s present expectations. Additional information regarding these risks and uncertainties is contained in the Bank’s filings with the
Contact: Tim Hicks (501) 978-2336
Source: Bank OZK