trending Market Intelligence /marketintelligence/en/news-insights/trending/capp-w1xdi-xst8octm6mg2 content esgSubNav
In This List

Compass Bank closes senior notes offering

Podcast

Street Talk Episode 87

Blog

A New Dawn for European Bank M&A Top 5 Trends

Blog

Insight Weekly: US banks' loan growth; record share buybacks; utility M&A outlook

Blog

Banking Essentials Newsletter 2021: December Edition


Compass Bank closes senior notes offering

Birmingham, Ala.-based Compass Bank, a unit of BBVA Compass Bancshares Inc., closed the sale of $450 million of floating rate unsecured senior notes due 2021, and $700 million of 3.50% of fixed rate unsecured senior notes due 2021.

The floating rate notes will mature June 11, 2021. The notes will bear an annual interest rate of 3-month LIBOR rate plus 0.73%, payable quarterly in arrears on March 11, June 11, Sept. 11 and Dec. 11 of each year, starting Sept. 11.

The fixed rate notes will mature June 11, 2021, and will bear an annual interest rate of 3.50%, payable semiannually in arrears on June 11 and Dec. 11 of each year, starting Dec. 11.

Compass Bank intends to use the proceeds of the offering for general corporate purposes.

Morgan Stanley & Co. LLC, BBVA Securities Inc., Citigroup Global Markets Inc. and Goldman Sachs & Co. LLC acted as joint book-running managers for the offering.