Avidbank Holdings closes $30 million subordinated debt offering

Reuters2026/08/26 20:18

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Avidbank Holdings closed a USD 30 million private placement of fixed-to-floating rate subordinated notes.
Net proceeds earmarked to repurchase or redeem USD 22 million of outstanding callable subordinated notes, with remaining funds for general corporate purposes.
Notes mature Sept. 1, 2036; pay 7% fixed for five years, then float at three-month SOFR plus 291 basis points.
Issuer call option begins Sept. 1, 2031 on any interest payment date; earlier redemption permitted under specified events.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Avidbank Holdings Inc. published the original content used to generate this news brief via ACCESS Newswire (Ref. ID: 202608261615ACCESSWRNAPR_____1212008) on August 26, 2026, and is solely responsible for the information contained therein.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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Avidbank Holdings closes $30 million subordinated debt offering

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