US Metro Bancorp Successfully Closes $15.9 Million Private Placement of Subordinated Debt Notes
Garden Grove, CA – US Metro Bancorp (Bancorp), the parent company of US Metro Bank, recently announced the successful closing of a private placement of $15.9 million aggregate principal amount 6.00% Fixed Interest Rate Subordinated Debt Notes. The debt notes, which will mature on March 31, 2028, were issued on March 31, 2025.
Terms of the Debt Notes
The debt notes will bear interest at a rate of 6.00% per annum, payable on a quarterly basis in arrears. Bancorp intends to use the proceeds from the offering for general corporate purposes, including the funding of potential acquisitions and the repayment of existing indebtedness.
Impact on US Metro Bancorp
This private placement is expected to provide Bancorp with additional financial resources to support its growth strategy. The proceeds from the offering will allow the company to pursue potential acquisitions, expand its loan portfolio, and strengthen its balance sheet. The debt notes also provide Bancorp with longer-term financing, which may help to reduce its reliance on short-term borrowing.
Impact on the World
The successful closing of this private placement by US Metro Bancorp is a positive sign for the banking industry as a whole. It indicates that there is continued demand for debt financing in the market, even in the current economic environment. The proceeds from the offering may also contribute to economic growth by supporting Bancorp’s lending activities and potential acquisitions.
Conclusion
US Metro Bancorp’s successful closing of its private placement of $15.9 million aggregate principal amount 6.00% Fixed Interest Rate Subordinated Debt Notes is a significant development for the company. The proceeds from the offering will provide Bancorp with additional financial resources to support its growth strategy, while also contributing to economic growth through lending activities and potential acquisitions. The successful placement of these debt notes is a positive sign for the banking industry, indicating continued demand for debt financing in the market.
- US Metro Bancorp closes private placement of $15.9 million subordinated debt notes
- Proceeds to be used for general corporate purposes, including acquisitions and debt repayment
- Positive sign for the banking industry, indicating continued demand for debt financing
- Proceeds may contribute to economic growth through lending activities and potential acquisitions
