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Pinnacle Financial Partners redeems subordinated notes due 2024

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Pinnacle Financial Partners redeems subordinated notes due 2024

Pinnacle Financial Partners Inc. redeemed all of the $20 million outstanding aggregate principal amount of its fixed/floating-rate subordinated notes due Dec. 29, 2024. It also redeemed all of the $60 million outstanding aggregate principal amount of its 5.5% fixed- to floating-rate subordinated notes due Oct. 1, 2024.

Effective Jan. 1, the company redeemed the notes at a price equal to 100.00% of the aggregate principal amount, plus accrued and unpaid interest thereon to, but excluding, the redemption date.