Cadence Bancorporation Announces Proposed Offering of Fixed to Floating Rate Subordinated Notes Due 2029
June 20 2019 - 8:01AM
Business Wire
Cadence Bancorporation (NYSE: CADE) today announced the
commencement of a registered public offering of fixed to floating
rate subordinated notes due 2029 (the “Notes”), pursuant to the
shelf registration statement (File No. 333-225075) filed by the
Company with the U.S. Securities and Exchange Commission (the
“SEC”) on May 21, 2018.
Cadence Bancorporation intends to use the net proceeds from this
offering, together with cash on hand or other immediately available
funds, to repay its 4.875% senior notes due June 28, 2019, or for
general corporate purposes. Sandler O’Neill & Partners, L.P.
and U.S. Bancorp Investments, Inc. are acting as book-running
managers for the offering. Raymond James & Associates, Inc. is
acting as co-manager for the offering.
Cadence Bancorporation has filed a registration statement
(including a prospectus and a preliminary prospectus supplement)
with the SEC for the offering to which this communication relates.
Before you invest, you should read the prospectus and the
preliminary prospectus supplement in that registration statement
and other documents Cadence Bancorporation has filed with the SEC
for more complete information about Cadence Bancorporation and this
offering. You may get these documents for free by visiting EDGAR on
the SEC Web site at www.sec.gov. Alternatively, the issuer, any
underwriter or any dealer participating in the proposed offering
will arrange to send you copies of the prospectus and the
preliminary prospectus supplement relating to the proposed offering
if you request it by calling Sandler O’Neill & Partners, L.P.
at 866-805-4128 or U.S. Bancorp Investments, Inc. at
1-877-558-2607.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction. Any offer or sale of the Notes will be made only by
means of a prospectus supplement relating to the offering and the
accompanying prospectus.
About Cadence Bancorporation
Cadence Bancorporation (NYSE: CADE), headquartered in Houston,
Texas, is a regional financial holding company with $17.4 billion
in assets as of March 31, 2019. Cadence operates 98 branch
locations in Alabama, Florida, Georgia, Mississippi, Tennessee and
Texas, and provides corporations, middle-market companies, small
businesses and consumers with a full range of innovative banking
and financial solutions. Services and products include commercial
and business banking, treasury management, specialized lending,
asset-based lending, commercial real estate, SBA lending, foreign
exchange, wealth management, investment and trust services,
financial planning, retirement plan management, business insurance,
consumer banking, consumer loans, mortgages, home equity lines and
loans, and credit cards. Clients have access to leading-edge online
and mobile solutions, interactive teller machines, and more than
55,000 ATMs. The Cadence team of 1,800 associates is committed to
exceeding customer expectations and helping their clients succeed
financially.
Cautionary Statement Regarding Forward-Looking
Information
This communication contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. These forward-looking statements reflect our current views
with respect to, among other things, the launch, pricing and
completion of the offering of the Notes. These statements are
often, but not always, made through the use of words or phrases
such as “may,” “should,” “could,” “predict,” “potential,”
“believe,” “will likely result,” “expect,” “continue,” “will,”
“anticipate,” “seek,” “estimate,” “intend,” “plan,” “projection,”
“would” and “outlook,” or the negative version of those words or
other comparable words of a future or forward-looking nature. These
forward-looking statements are not historical facts, and are based
on current expectations, estimates and projections about our
industry, management’s beliefs and certain assumptions made by
management, many of which, by their nature, are inherently
uncertain and beyond our control. Accordingly, we caution you that
any such forward-looking statements are not guarantees of future
performance and are subject to risks, assumptions and uncertainties
that are difficult to predict. Although we believe that the
expectations reflected in these forward-looking statements are
reasonable as of the date made, actual results may prove to be
materially different from the results expressed or implied by the
forward-looking statements. The foregoing factors should not be
construed as exhaustive and should be read together with the other
cautionary statements included in the registration statement on
Form S-3, including the preliminary prospectus supplement and the
related prospectus, we have filed with the SEC. If one or more
events related to these or other risks or uncertainties
materialize, or if our underlying assumptions prove to be
incorrect, actual results may differ materially from what we
anticipate. Accordingly, you should not place undue reliance on any
such forward-looking statements. Any forward-looking statement
speaks only as of the date on which it is made, and we do not
undertake any obligation to publicly update or review any
forward-looking statement, whether as a result of new information,
future developments or otherwise. New factors emerge from time to
time, and it is not possible for us to predict which will arise. In
addition, we cannot assess the impact of each factor on our
business or the extent to which any factor, or combination of
factors, may cause actual results to differ materially from those
contained in any forward-looking statements.
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Cadence Bancorporation
Media contact: Danielle Kernell 713-871-4051
danielle.kernell@cadencebank.com
Investor relations contact: Valerie Toalson 713-871-4103
or 800-698-7878 vtoalson@cadencebancorporation.com
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