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Level One Bancorp Finally Prices New Preferred Issue

Smaller banker Level One Bancorp (LEVL) has finally priced the new preferred issue they announced 2 weeks ago.

The issue has priced at a high 7.50%.

The issue is unrated except by Kroll Bond Rating service which rates it a BB+.

The issue is non cumulative, but qualified.

The temporary ticker has not been announced so we will watch for it today and update this post when known.

The pricing term sheet can be read here.

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