CHICAGO--(BUSINESS WIRE)--Byline Bancorp, Inc. (âBylineâ or the âCompanyâ) (NYSE: BY), the parent company of Byline Bank (the âBankâ), today announced the completion of a private placement of $75.0 million in aggregate principal amount of 6.875% Fixed-to-Floating Rate Subordinated Notes due 2035 (the âNotesâ). The Company intends to use the net proceeds of the private placement of the Notes to redeem $75.0 million of outstanding 6.00% Fixed-to-Floating Rate Subordinated Notes due 2030. The Note
Related Questions
How does the new 6.875% FixedâtoâFloating Subordinated Notes compare to the terms of the redeemed 6.00% notes in terms of interest expense and maturity profile?
What are the covenant and call protection provisions of the new notes, and how do they compare to the old notes?
Could the higher fixedâtoâfloating rate affect cash flow volatility under different interestârate scenarios?
How does the issuance affect Byline's Tier 2 capital ratio and compliance with regulatory capital requirements?
Is the private placement oversubscribed or underâsubscribed, and what does that indicate about investor demand?
What is the market perception of Bylineâs strategy to replace lowerârate notes with higherârate, longerâdated securities?
How will the refinancing of $75M of 6% notes with 6.875% notes affect Byline's overall cost of capital?
Will the higher coupon rate increase the bank's net interest margin or erode earnings?
Will this transaction affect the bankâs dividend policy or future share repurchase plans?
How does the pricing and structure compare with similar financing deals by peer regional banks?
How might this transaction influence BYâs stock price in the short term (intraday/overnight) and long term?
What are the market's expectations for the yield and liquidity of these subordinated notes in the secondary market?
What credit rating impact could result from adding higherârate subordinated debt to the balance sheet?
What effect will the redemption have on Byline's earnings per share (EPS) and return on equity (ROE) for the next reporting period?
What is the expected impact on Byline's leverage ratios and Tier 1 capital after the private placement?