WSFS Financial Closes Offering of Senior Notes due 2035
MT Newswires Live
Dec 12
WSFS Financial (WSFS) said late Thursday it closed a public offering of $200 million of 5.375% fixed-to-floating rate senior unsecured notes due 2035.
From Dec. 15, 2030, the rate will reset quarterly at an annual floating rate equal to the three-month term secured overnight financing rate, plus 189 basis points, the company said.
Net proceeds will be used to repay $150 million of the company's outstanding fixed-to-floating rate senior notes due 2030 and for general corporate purposes, according to the company.
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