First Financial Bancorp Prices $300 Million Subordinated Notes Offering

Reuters
11/07
First Financial Bancorp Prices $300 Million Subordinated Notes Offering

First Financial Bancorp. (Nasdaq: FFBC) has announced the pricing of a public offering of $300 million aggregate principal amount of 6.375% Fixed-to-Floating Rate Subordinated Notes due 2035. The Notes will accrue interest at 6.375% per annum from the issue date until December 1, 2030, with payments made semiannually in arrears. From December 1, 2030, the Notes will bear interest at a floating rate equal to the Three-Month Term SOFR plus a spread of 300 basis points, payable quarterly in arrears. The offering is intended to qualify as Tier 2 capital for regulatory purposes, and the net proceeds are estimated to be approximately $296 million, which may be used for general corporate purposes, including the potential redemption of the company's 5.25% Subordinated Notes due 2030. The offering is expected to close on November 10, 2025, subject to customary closing conditions. The full prospectus can be found at https://www.sec.gov.

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. First Financial Bancorp published the original content used to generate this news brief via PR Newswire (Ref. ID: CL18380) on November 07, 2025, and is solely responsible for the information contained therein.

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