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Eagle Bancorp prices upsized subordinated debt offering

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Eagle Bancorp prices upsized subordinated debt offering

Bethesda, Md.-based EagleBancorp Inc. increased the aggregate principal amount of its publicoffering of 5.00% fixed-to-floating rate subordinated notes due 2026 to $150.0 millionfrom the previously announced amount of $75.0million.

The company set the price July 21 for its subordinated debt offering.The notes will initially bear interest at 5.00% per year, payable semiannually inarrears, commencing on the issue date, to, but excluding, Aug. 1, 2021, and, thereafter,payable quarterly in arrears, at an annual floating rate equal to three-month LIBORas determined for the applicable quarterly period, plus 3.85%.

The notes, which will mature Aug. 1, 2026, have been offeredto the public at par.

As previously reported, the company plans to use the net proceedsfor general corporate purposes.

Sandler O'Neill & Partners LP is acting as book-running managerfor the offering and Keefe Bruyette & Woods is co-manager.