Byline Bancorp, Inc. announced on August 7, 2025, 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 company stated its intention to use the net proceeds from this placement to redeem existing debt.
The company subsequently redeemed its entire $75.0 million outstanding principal amount of 6.000% Fixed-to-Floating Rate Subordinated Notes due 2030. This redemption occurred on October 1, 2025, at 100% of the principal amount plus accrued interest, as stipulated in its debt indenture agreements.
This refinancing action adjusts Byline's capital structure by extending the maturity of a portion of its subordinated debt, despite a higher coupon rate. This move provides the company with enhanced financial flexibility and stability for its long-term strategic initiatives.
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