Cadence Bancorp Announces Successful Debt Issuance
“We are delighted to have such positive interest in our company,” said Paul Murphy, CEO and president of Cadence Bancorp, noting the debt raise was oversubscribed. “Investors were particularly drawn to our core business outlook and long-term strategy as well as our very attractive Texas and Southeastern footprint. Our customers will be the true beneficiaries as we continue to build out our strong franchise.”
The issuance will enable Cadence to maintain strong capital levels and continue its momentum in developing strong products, technology and people. “This is a really great win for our customers who deserve the very best banking experience,” noted Sam Tortorici, CEO of Cadence Bank. “We can further our devlopment and strong loan growth which have enabled us to support our communities and their economic vitality.”
The transaction includes the following-
Holding company notes issued by Cadence Financial Corporation:
- $135 million 5-year senior note: 4.875 percent
- $50 million 7-year senior note: 5.375 percent
- $35 million 15-year subordinated note: 7.250 percent
- $25 million 15-year subordinated note: 6.250 percent
About Cadence Bancorp, LLC
Cadence Bancorp, LLC (CBC) is a $7 billion bank holding company headquartered in Houston, Texas. Today, through Cadence Bank, N.A., headquartered in Birmingham, Alabama, CBC has more than 95 locations in six states, including Florida, Georgia, Alabama, Mississippi, Tennessee and Texas. As a robust financial organization, CBC is intent on supporting the economic growth of the communities it serves. Through exceptional customer service, relevant products and services, a disciplined credit and risk management framework, cost controls, and the implementation of enhanced technology, CBC has become a significant regional bank.
Contact Information:
Danielle Kernell
Cadence Bank, N.A.
713-871-4051 direct | 713-392-7709 mobile
[email protected]