Amerant Bancorp prices $50M senior notes offering with 7.00% coupon
AMTB sits 89% above its 52-week low of $15.62.
Summary
Amerant Bancorp has priced a $50 million senior notes offering due 2031 with a 7.00% coupon and 7.125% yield to maturity. This follows SEC filings yesterday that detailed the preliminary and finalized terms of the offering. The capital raise provides the bank with additional funding, strengthening its balance sheet and supporting general corporate purposes, including potential loan growth.
At the time of this announcement, AMTB was trading at $29.55 on NYSE in the Finance sector, with a market capitalization of approximately $1.2B. The 52-week trading range was $15.62 to $30.60. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Seeking Alpha.