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Banker Enterprise Financial Services Price New Preferred Issue – Ticker Update

As noted by af below the OTC ticker of EFSSV has been assigned. Look for a change in this ticker in a day or 2.

Enterprise Financial Services Corp (EFSC) has priced their new issue of preferred stock.

The issue prices with a coupon of 5.00% for 2.8 million shares with another 200,000 available for over-allotments.

The issue is rated BBB- by Kroll.

The issue is typical–non cumulative and qualified with an early optional redemption available starting 12/15/2026.

The OTC ticker has not been announced as of yet–likely will be known shortly.

The pricing term sheet can be found here.

5 thoughts on “Banker Enterprise Financial Services Price New Preferred Issue – Ticker Update”

  1. I really struggle with how much credibility to give ratings from Kroll, Egan Jones, etc. Basically if it’s not S&P, Moody’s or Fitch I don’t give it much credence. Thoughts? Am I missing something?

  2. The term sheet reflects an expected Kroll rating of BBB-. I was told it was a Kroll BBB. Where does the Egan Jones rating come from?

    1. Thanks af – corrected. The EJ rating was just a figment of my imagination I guess

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