Group 1 - First Bank announced the closing of a $35.0 million private placement of fixed-to-floating rate subordinated notes, intending to use the proceeds to redeem $30.0 million of existing subordinated notes and for general corporate purposes [1][2] - The notes have a maturity date of June 30, 2035, with a fixed interest rate of 7.125% for the first five years, transitioning to a floating rate thereafter, which is the three-month Secured Overnight Financing Rate (SOFR) plus 343 basis points [2] - The notes are structured to qualify as Tier 2 capital for regulatory purposes, and the Bank can redeem them without penalty starting June 30, 2030 [2] Group 2 - CEO Patrick L. Ryan expressed satisfaction with the successful completion of the subordinated debt offering, highlighting that it allows the Bank to retire existing notes at a lower interest rate and enhance its capital base without diluting common stock [3] - The overall cost of capital is considered attractive due to the tax-deductible nature of the instrument combined with the low interest rate [3] - Piper Sandler & Co. acted as the sole placement agent for the offering, with legal advice provided by Luse Gorman, PC and Silver, Freedman, Taff & Tiernan LLP [3] Group 3 - First Bank is a New Jersey state-chartered bank with 27 full-service branches and $3.88 billion in assets as of March 31, 2025, offering a range of deposit and loan products primarily in the New York City to Philadelphia corridor [4]

Core Viewpoint - Ageas SA/NV successfully placed EUR 500 million in subordinated fixed to floating rate notes, indicating strong market interest with over 3 times oversubscription [1][2]. Group and Company Summary - The notes have a maturity date in May 2056 and a first call date in November 2035, with a fixed coupon rate of 4.625% until the first reset date on May 2, 2036 [1][2]. - After the first reset date, the coupon will shift to a quarterly payment based on a 3-month Euribor floating rate plus an initial credit spread of 215 basis points and a 100 basis points step-up [2]. - The notes qualify as Tier 2 capital under the Solvency II regime and are rated A- by Fitch, with expectations of a similar rating from Standard and Poor's [3]. - The net proceeds from the issuance will be utilized for financing the acquisition of esure and for general corporate purposes, optimizing the capital structure of the group [4]. - Ageas is a prominent international insurance group with a 200-year heritage, focusing on life and non-life insurance products across Europe and Asia, employing around 50,000 people and reporting annual inflows of EUR 18.5 billion in 2024 [5].

Group 1 - The company AB Šiaulių Bankas has redeemed EUR 20 million nominal value of 6.15% fixed rate subordinated second tier notes by exercising the early redemption right on April 24, 2025 [1] - The early redemption was executed because less than 100% of the issued nominal amount qualifies as Tier 2 capital with less than five years remaining until maturity [2] - Following the redemption, Šiaulių Bankas continues to meet capital adequacy requirements with a significant buffer and has strengthened its Tier 1 capital by issuing an Additional Tier 1 (AT1) bond on October 14, 2024 [3]