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1/18/2021

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Merchants Bancorp Price FTF Preferred

Indiana banker Merchants Bancorp (NASDAQ:MBIN) has priced their new issue of fixed-to-floating rate preferred.

The 6% fixed rate starting coupon is followed in 2024 with a floating rate coupon of 3 month Libor plus a spread of 4.569%

The issue should trade immediately on the OTC Grey market.

The pricing term sheet can be read here.

Author Tim McPartlandPosted on 08/13/201908/13/2019Categories New Issue, Preferred Stock

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