Home BancShares, Inc. Announces Completion of Subordinated Notes Offering
January 18, 2022 at 05:00 pm
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Home BancShares, Inc. announced the completion of its underwritten public offering of $300 million of its 3.125% fixed-to-floating rate subordinated notes due 2032. The Notes were issued at a public offering price of 100% of par, resulting in net proceeds, after underwriting discounts, of approximately $297.2 million. The Company intends to use the net proceeds of this offering for general corporate purposes, which may include, but are not limited to the repayment of the Company's outstanding subordinated notes and subordinated debentures, the repayment of outstanding subordinated debentures that the Company would assume following the completion of its acquisition of Happy Bancshares, Inc. (Happy), investments at the holding company level, providing capital to support the growth of Centennial Bank and the Company's business, repurchases of the Company's common shares and the payment of the cash consideration components of future acquisitions.
Home BancShares, Inc. is a bank holding company. The Company is primarily engaged in providing a range of commercial and retail banking and related financial services to businesses, real estate developers and investors, individuals and municipalities through its wholly owned community bank subsidiary, Centennial Bank (the Bank). The Bank originates loans primarily secured by single and multi-family real estate, residential construction, and commercial buildings. In addition, the Bank makes loans to small and medium-sized commercial businesses as well as to consumers for a variety of purposes. The Bank offers a range of deposit services, including checking, savings, money market accounts and certificates of deposit. The Bank offers a range of products and services, including 24-hour Internet banking, mobile banking and voice response information, cash management, overdraft protection, direct deposit, safe deposit boxes, United States savings bonds and automatic account transfers.