FIG Has Now Raised More Than $735 Million In Debt Capital In 31 Offerings
ATLANTA, Aug. 31, 2018 — HarborOne Bancorp, Inc. (NASDAQ:HONE), the holding company for HarborOne Bank, has completed the sale of $35 million in fixed-to-floating rate subordinated notes.
The notes, due in 2028, bear a fixed rate of 5.625% for the first five years and will reset quarterly thereafter to the current three-month LIBOR rate plus 278 basis points. The notes were assigned an investment grade rating of BBB+ by Egan-Jones Ratings Company.
HarborOne Bancorp, Inc., based in Brockton, Massachusetts, intends to use the net proceeds for general corporate purposes, including improving the liquidity position at the holding company and the Bank. The notes qualify as Tier 2 capital for the Company for regulatory purposes. The portion that the Company contributes to the Bank will qualify as Tier 1 capital for the Bank.
The FIG team included Dan Flaherty, Principal; Greg Gersack and Matthew Veneri, Managing Principals and Co-Heads of Investment Banking; and Lozan Aleksandrov, Senior Vice President and Deputy Head of Capital Markets.
More information is available here.
Since 2003, FIG has been the trusted advisor to community banks and investors. To learn more about FIG’s investment banking services, visit www.figpartners.com.