Pinnacle Financial Partners, Inc. (NASDAQ/NGS: PNFP) (“Pinnacle Financial”) today announced the commencement of a registered public offering of fixed-to-floating rate subordinated notes due 2029 (the “Notes”). The net proceeds of the Notes offering are anticipated to be used to redeem certain of Pinnacle Financial’s and Pinnacle Bank’s subordinated notes, including approximately $88.8 million aggregate principal amount, as of June 30, 2019, of outstanding subordinated notes issued by it (or bank holding companies that have been merged with and into it) following the closing of this offering. Pinnacle Financial also presently intends to redeem $130.0 million aggregate principal amount of outstanding subordinated notes issued by Pinnacle Bank after such notes become eligible for redemption on July 30, 2020.

source https://finance.yahoo.com/news/pinnacle-financial-partners-inc-announces-113500022.html?.tsrc=rss