Burke & Herbert Prices $100M Subordinated Notes Offering at 7.00%
BHRB sits 20% above its 52-week low of $57.42.
Summary
Burke & Herbert priced a $100 million subordinated notes offering at 7.00% fixed-to-floating rate due 2036. The notes are intended to qualify as Tier 2 capital. Proceeds will refinance existing subordinated debt and potentially redeem preferred stock, improving the capital structure. The offering is expected to close September 30, 2026. This follows the 424B5 filing earlier today and the company's recent merger with LINKBANCORP.
At the time of this announcement, BHRB was trading at $69.12 on NASDAQ in the Finance sector, with a market capitalization of approximately $1.4B. The 52-week trading range was $57.42 to $75.09. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: GlobeNewswire.