Business
Hanmi Announces Pricing of $110 Million Subordinated Debt Offering
LOS ANGELES, Aug. 18, 2021 (GLOBE NEWSWIRE) -- Hanmi Financial Corporation (NASDAQ: HAFC) (“Hanmi”), the holding company for Hanmi Bank (the “Bank”), today
About this update from Hanmi Financial Corporation
[{"type":"text","content":"LOS ANGELES, Aug. 18, 2021 (GLOBE NEWSWIRE) -- Hanmi Financial Corporation (NASDAQ: HAFC) (“Hanmi”), the holding company for Hanmi Bank (the “Bank”), today announced that it has priced an underwritten public offering of $110 million aggregate principal amount of its fixed-to-floating rate subordinated notes (the “Notes”) due 2031. The Notes will initially bear a fixed interest rate of 3.750% per year. Commencing on September 1, 2026, the interest rate on the Notes resets quarterly to the three-month SOFR rate plus a spread of 310 basis points, payable quarterly in arrears. The offering is expected to close on August 20, 2021, subject to the satisfaction of customary closing conditions. The Company plans to use the net proceeds from the Notes offering for general corporate purposes, which may include refinancing activities, including repayment of all or a portion of the outstanding principal amount of our outstanding subordinated notes and junior subordinated debentures. Piper Sandler & Co. and Keefe, Bruyette & Woods, A Stifel Company, are acting as a joint book-running managers, while Janney Montgomery Scott LLC and Wedbush Securities Inc. are acting as co-managers. Each offering will be made only by means of a prospectus supplement and accompanying base prospectus. Hanmi has filed a registration statement on Form S-3 (File No. 333-251393), as amended and supplemented by the registration statement filed on Form S-3MEF (File No. 333-258894), and a preliminary prospectus supplement to the prospectus contained in the registration statement with the U.S. Securities and Exchange Commission (“SEC”) for the Notes to which this communication relates. Prospective investors should read the applicable prospectus supplement and base prospectus in the registration statement and other documents Hanmi has filed or will file with the SEC for more complete information about Hanmi and the relevant offering. You may obtain these documents for free by visiting EDGAR on the SEC’s website at http://www.sec.gov. Electronic copies of each preliminary prospectus supplement, when available, and the accompanying base prospectus may be obtained by contacting Piper Sandler & Co. by telephone at (866) 805-4128 or by email at [email protected] or by emailing Keefe, Bruyette & Woods at [email protected]. This press release shall not constitute an of...