National Bank Holdings Corporation Announces Closing of Subordinated Notes Offering

Core Viewpoint - National Bank Holdings Corporation successfully closed a public offering of $150.0 million in subordinated notes, reflecting strong investor demand and enhancing its Tier 2 capital [1]. Group 1: Offering Details - The offering was increased from an initial $100.0 million due to high demand from institutional investors [1]. - The notes have a fixed interest rate of 5.875% for the first five years, followed by a floating rate based on the Three-Month Term SOFR plus a spread of 241 basis points [1]. - Interest payments will be made semi-annually during the fixed period and quarterly during the floating rate period [1]. Group 2: Company Background - National Bank Holdings Corporation operates a network of over 100 banking centers across several states, including Colorado, Texas, and Florida, serving a diverse clientele [4]. - The company aims to build a leading community bank franchise focused on high-quality client service and stakeholder results [4]. - Its banking subsidiaries include NBH Bank and Bank of Jackson Hole Trust, which provide various financial services [4]. Group 3: Management and Legal Counsel - Piper Sandler & Co. served as the sole book-running manager for the offering [2]. - Legal counsel for the company was provided by Wachtell, Lipton, Rosen & Katz, while Otteson Shapiro LLP acted as legal counsel to the underwriter [2].