WSFS Announces Execution of $100 Million Senior Debt Call
WILMINGTON, Del., June 15, 2021 (GLOBE NEWSWIRE) -- WSFS Financial Corporation (NASDAQ: WSFS), the parent company of WSFS Bank, today announced that it has called $100 million of senior debt with a coupon rate of 4.50% fixed-to-floating rate senior notes due 2026. The notes were callable quarterly beginning June 15, 2021. The debt was repaid using a portion of the proceeds from the December 2020 issuance of $150 million of fixed-to-floating senior holding company notes with a historically low initial coupon of 2.75% for five years and then floats at SOFR plus 2.485% for the final five years.
WSFS Announces Execution of $100 Million Senior Debt Call
WILMINGTON, Del., June 15, 2021 (GLOBE NEWSWIRE) -- WSFS Financial Corporation (NASDAQ: WSFS), the parent company of WSFS Bank, today announced that it has called $100 million of senior debt with a coupon rate of 4.50% fixed-to-floating rate senior notes due 2026. The notes were callable quarterly beginning June 15, 2021. The debt was repaid using a portion of the proceeds from the December 2020 issuance of $150 million of fixed-to-floating senior holding company notes with a historically low initial coupon of 2.75% for five years and then floats at SOFR plus 2.485% for the final five years.