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Prospect News home > News index > List of issuers C > Headlines for Cadence Bancorporation > News item |
S&P rates Cadence subordinated notes BB
S&P said it assigned its BB rating to Cadence Bancorporation's issuance of $85 million of 4.75% fixed-to-floating rate subordinated notes.
“We expect the company to use the proceeds of this offering, together with cash on hand or other immediately available funds, to redeem its 4.875% senior notes due June 28, 2019, or for general corporate purposes,” S&P said in a news release.
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