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First Republic Bank in $500M debt sale

First Republic Bank on June 6 issued and sold $500 million aggregate principal amount of its 2.500% senior notes maturing June 6, 2022, unless redeemed earlier.

Interest will be paid semiannually in arrears on June 6 and Dec. 6 of each year, starting Dec. 6, 2017. The notes will bear interest at a rate of 2.500% per year.

Net proceeds will be used for general corporate purposes.

Merrill Lynch Pierce Fenner & Smith Inc., Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC were the joint book-running managers, while The Williams Capital Group LP served as co-manager in the offering.