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WSFS Financial Corporation Announces Pricing of Senior Unsecured Notes Offering
WILMINGTON, Del.--(BUSINESS WIRE)-- WSFS Financial Corporation (Nasdaq: WSFS), the parent company of WSFS Bank, today announced the pricing of its
About this update from Wsfs Financial Corporation
[{"type":"text","content":" WILMINGTON, Del.--(BUSINESS WIRE)--\nWSFS Financial Corporation (Nasdaq: WSFS), the parent company of WSFS Bank, today announced the pricing of its underwritten public offering of $200 million aggregate principal amount of its Fixed-to-Floating Rate Senior Unsecured Notes due 2035 (the “Notes”). The Notes will bear interest from and including December 15, 2025 to but excluding December 15, 2030 at a fixed rate of 5.375% per annum, reflecting a spread of 160 basis points to the 5-year Treasury, payable semi-annually in arrears. From and including December 15, 2030 to, but excluding, December 15, 2035 (unless redeemed prior to such date), the Notes will bear interest at a floating rate per annum equal to the Three-Month Term SOFR, plus 189 basis points, payable quarterly in arrears.\n\nThe Notes may be redeemed, at the option of WSFS Financial Corporation, beginning on December 15, 2030, and on any scheduled interest payment date thereafter, in whole or in part, at a redemption price equal to 100% of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest to, but excluding, the date of redemption.\n\nWSFS Financial Corporation intends to use the net proceeds from this offering to repay $150 million aggregate principal amount of its outstanding Fixed-to-Floating Rate Senior Unsecured Notes due 2030 and for general corporate purposes. The offering is expected to close on or about December 11, 2025, subject to customary closing conditions.\n\nPiper Sandler, Keefe, Bruyette & Woods, A Stifel Company, and RBC Capital Markets acted as joint book-running managers in the Notes offering.\n\nThe Notes are being offered pursuant to an effective registration statement (File No. 333-272862) which WSFS filed with the Securities and Exchange Commission (the “SEC”) by means of a prospectus supplement and accompanying base prospectus.\n\nCopies of the prospectus supplement and accompanying base prospectus relating to the offering of the Notes can be obtained without charge by visiting the SEC's website at www.sec.gov, or may be obtained from: Piper Sandler & Co., at 1251 Avenue of the Americas, 6th Floor, New York, New York 10020, Attn: Syndicate Operations, by email at [email protected], or by calling 1 (866) 805-4128; Keefe, Bruyette & Woods, Inc. at 787 Seventh Avenue, 4th Floor, New York, NY 10019, by email at USCapit...