Core Points - QCR Holdings, Inc. has completed private placements of $70 million in subordinated notes, consisting of $50 million in 6.875% Fixed-to-Floating Rate Subordinated Notes due September 2035 and $20 million in 7.225% Fixed-to-Floating Subordinated Notes due September 2037 [1][2][3] - The net proceeds from these placements will be used for general corporate purposes, including the redemption of previously announced subordinated notes [1][2] - The issuance supports the company's long-term growth strategy and reinforces its financial strength [2] Financial Details - The 2035 Notes will have a fixed interest rate of 6.875% for the first five years, transitioning to a floating rate thereafter, expected to be the three-month term SOFR plus 350 basis points [2] - The 2037 Notes will have a fixed interest rate of 7.225% for the first seven years, also transitioning to a floating rate, expected to be the three-month term SOFR plus 375 basis points [3] - The blended interest rate for the new issuances is below 7%, indicating a strong transaction [2] Company Overview - QCR Holdings, Inc. is a multi-bank holding company based in Moline, Illinois, serving various communities through its subsidiary banks [5] - As of June 30, 2025, the company reported $9.2 billion in assets, $6.8 billion in loans, and $7.3 billion in deposits [5]

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].

Additional information: On 24 April 2025 AB Šiaulių Bankas has redeemed the issue of EUR 20 000 000 nominal value of 6.15% fixed rate subordinated second tier notes (ISIN: LT0000404287), by exercising the early redemption right. As of 24 April 2025, these bonds have been delisted from the Nasdaq Vilnius Bond List and deleted from the Nasdaq CSD accordingly. "The bonds have been redeemed early because, with less than five years remaining until the maturity of the subordinated bonds, less than 100% of the iss ...